Consumer Surplus

question 87

Multiple Choice

Consumer surplus:

• A) is the difference between the maximum prices consumers are willing to pay for a product and the lower equilibrium price.
• B) the difference between the maximum prices consumers are willing to pay for a product and the minimum prices producers are willing to accept.
• C) the difference between the minimum prices producers are willing to accept for a product and the higher equilibrium price.
• D) rises as equilibrium price rises.

---

Definitions:

Vomit

The involuntary, forceful expulsion of the contents of one's stomach through the mouth and sometimes the nose.

Oxytocin

A hormone and neurotransmitter often associated with social bonding, childbirth, and breastfeeding.

Hormone/Neurotransmitter

Chemical substances that act as messengers in the body, with hormones being released into the bloodstream and neurotransmitters being involved in transmitting signals across nerve synapses.

Trust

The firm belief in the reliability, truth, ability, or strength of someone or something.