Which of the Following Will Cause a Decrease in Consumer

question 41

Multiple Choice

Which of the following will cause a decrease in consumer surplus?

• A)an increase in the number of sellers of the good
• B)a decrease in the production cost of the good
• C)sellers expect the price of the good to be lower next month
• D)the imposition of a binding price floor in the market

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Definitions:

Cognitive Factors

Elements related to mental processes such as perception, memory, language, and problem-solving.

External Environment

All outside factors and influences that impact the operation, success, and decision-making processes of an organization or individual.

Bandura

A psychologist known for his work on social learning theory, emphasizing the role of observational learning, self-efficacy, and reciprocal determinism in behavior.

Behavioral Assessment

A method used in psychology to observe, describe, explain, and predict behavior through a variety of techniques, including interviews and direct observation.