The Consumer Surplus Derived from the Last Unit of a Good

question 184

Multiple Choice

The consumer surplus derived from the last unit of a good purchased _____

• A)tends to be less than zero.
• B)tends to be equal to zero.
• C)tends to equal the price of the good.
• D)tends to be greater than the price of the good.
• E)tends to be greater than the marginal utility of the first unit purchased.

Understand the criteria for evaluating deductive and inductive arguments.

Recognize the importance of sample size and variety in generalizations.

Identify the role of confirming and disconfirming evidence in inductive reasoning.

Understand the concept of confirmation bias and its impact on reasoning.

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