Consumer Surplus Is

question 6

Multiple Choice

Consumer surplus is

• A)the sum of the marginal values to the consumer.
• B)the total value that a consumer receives from the purchase of a particular good.
• C)a measure of the gains that a consumer forgoes by buying this product rather than another.
• D)the difference between what the consumer is willing to pay for all the units consumed and what he or she actually paid.
• E)the consumption of a commodity above and beyond the amount required by the consumer.

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Definitions:

Organic Product

A compound or substance that is derived from living organisms and contains carbon.

NaH

Sodium hydride, a chemical compound often used as a strong base in organic synthesis.

Organic Product

A compound or material derived from living organisms or synthesized to resemble a naturally occurring substance.

Major

Describing the most significant or largest component or pathway in a series of compounds or reactions.