Suppose the Total Benefit Eight People Enjoyed from Consuming One

question 3

Multiple Choice

Suppose the total benefit eight people enjoyed from consuming one cookie each was $8 + $6 + $6 + $5 + $4 + $3 + $3 +$1.If the price of a cookie was $1,what was the consumer surplus in this market?

• A)$8
• B)$28
• C)$36
• D)$37

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Definitions:

Ultimate Consumers

The final buyers or users of products and services for personal, non-business use.

Promotional Mix

The combination of advertising, personal selling, sales promotion, public relations, and direct marketing methods used to reach target customers and achieve marketing goals.

Pull Strategy

A marketing strategy designed to create demand for products directly from consumers, leading retailers to stock the product due to increased consumer demand.

Retailers

Businesses that sell goods or services directly to consumers, often in small quantities.