After Trying on a Dress, a Consumer Assesses It to Be

question 49

Multiple Choice

After trying on a dress, a consumer assesses it to be worth a maximum of $100 and is willing to pay that amount for the dress.However, the dress was priced at $80.What is the amount, $100, referred to as?

• A) The producer surplus
• B) The firm's cost (C) in manufacturing the dress
• C) The consumer surplus
• D) The value (V) the consumer attaches to the dress

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Definitions:

Pathophysiology

The study of mechanisms by which disease occurs, the responses of the body to the disease process, and the effects of both on normal function.

Endocytosis

A cellular process to bring large molecules of material into the cytoplasm of the cell.

DNA

A molecule known as deoxyribonucleic acid carries essential genetic directives necessary for the growth, development, functioning, and reproduction of all identified living beings and a wide variety of viruses.

Chromosome

A structure of nucleic acids and protein found in the nucleus of most living cells, carrying genetic information in the form of genes.