Which of the Following Will Cause an Increase in Consumer

question 24

Multiple Choice

Which of the following will cause an increase in consumer surplus?

• A)an increase in the production cost of the good
• B)a technological improvement in the production of the good
• C)a decrease in the number of sellers of the good
• D)the imposition of a binding price floor in the market

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Definitions:

Mirror Image Rule

A contract law principle stating that an offer must be accepted exactly without modifications for a contract to be formed.

Labor Force

The total number of people employed or seeking employment in a country or specific economic context.

Women

Female human beings, often discussed in context relating to their roles, rights, and experiences in society.

Controlling

Monitors performance and takes any needed corrective action.