If Brock Is Willing to Pay $500 for a New

question 54

Multiple Choice

If Brock is willing to pay $500 for a new suit but is able to buy the suit for $350, his consumer surplus is:

• A) $150
• B) $350
• C) $500
• D) $850

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Definitions:

IBM

International Business Machines Corporation, a multinational technology and consulting company known for its computer hardware, software, and IT services.

B2B Marketing

The marketing of goods and services directly to other businesses or organizations rather than to individual consumers.

Derived Demand

The demand for a product or service that arises due to the demand for another product or service it helps to produce.

B2C Sales

Direct transactions between a business and the end consumers of its products or services.