Which of the Following Is an Example of Consumer Surplus

question 345

Multiple Choice

Which of the following is an example of consumer surplus?

• A) Jose buys a hamburger for $2 and tells you he would not have paid a penny more.
• B) John believes the price he paid for his computer was too high.
• C) Mary buys a paper tablet for $2 and finds the same good at another store for $1.50.
• D) Sue would have paid $15 for a new compact disc but paid only $10.
• E) Anne finds a mountain bike for which she is willing to pay a maximum of $550 and the price of the bike is $600.

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Definitions:

CS (Conditioned Stimulus)

A stimulus that was neutral but becomes associated with an unconditioned stimulus to elicit a conditioned response in classical conditioning.

Classical Conditioning

A learning process that creates associations between a naturally occurring stimulus and a previously neutral stimulus.

Acquisition

In learning theory, the process of gaining new information and incorporating it into one's knowledge base.

Classical Conditioning

A learning process in which an association is made between a naturally occurring stimulus and a previously neutral stimulus.