Consumer Surplus Is

question 10

Multiple Choice

Consumer surplus is

• A)the amount a buyer is willing to pay for a good minus the amount the buyer actually pays for it.
• B)the amount a buyer is willing to pay for a good minus the cost of producing the good.
• C)the amount by which the quantity supplied of a good exceeds the quantity demanded of the good.
• D)a buyer's willingness to pay for a good plus the price of the good.

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Definitions:

Cones

Photoreceptor cells in the retina of the eye that function best in relatively bright light and are responsible for perceiving color and fine detail.

Rods

Photoreceptor cells in the retina of the eye that provide night vision and peripheral vision by detecting brightness and shades of gray.

Cones

Photoreceptor cells in the retina of the eye that are responsible for color vision and function best in relatively bright light.

Color Blind

A condition characterized by the inability to see colors in the usual way, affecting the perception of colors.