Gina Paid $900 for a Camera That She Thought Was

question 14

Multiple Choice

Gina paid $900 for a camera that she thought was worth $1100 for all the features included in it.For the consumer electronics firm selling the camera, however, the cost of producing the camera was only $350.What is the consumer surplus in this scenario?

• A) $900
• B) $1100
• C) $550
• D) $200

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Definitions:

Critical Thinker

An individual who actively engages in analysis, evaluation, and synthesis of information to form a judgment or solution.

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The act or process of applying the mind to the acquisition of knowledge, as by reading, investigation, or reflection.

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The process of creating detailed representations of the brain's structure, function, or connectivity to understand its complex workings.

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