If Susan Receives $3,000 of Value from a Computer That

question 283

Multiple Choice

If Susan receives $3,000 of value from a computer that she was able to purchase from Joe's Computer Shop for $1,800, this indicates that

• A) Susan's opportunity cost of purchasing the computer was $3,000.
• B) Joe earned a $1,200 profit on the sale of the computer.
• C) Susan reaped a consumer surplus of $1,200 from the purchase of the computer.
• D) Joe incurred a loss a $1,200 on the sale of the computer.

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Definitions:

Derived Demand

This refers to the demand for a good or service that arises from the demand for another good or service.

Industrial Products

are goods used in the production of other goods or services, including raw materials, machinery, and equipment, as opposed to consumer products.

Organizational Buying Behavior

The decision-making process and actions of organizations involved in purchasing goods and services for operation, production, or resale purposes, differing significantly from individual consumer buying behavior due to more complex processes and larger transactions.

Derived Demand

Demand for a good or service that occurs as a result of the demand for another good or service.