A Consumer Currently Purchases a Good at a Price Such

question 27

Multiple Choice

A consumer currently purchases a good at a price such that her net benefit is positive.Her preference then changes and she now values the good more than before.
If the market price remains unchanged,which of the following statements about her consumer surplus would be true?

• A)Her consumer surplus would also remain the same.
• B)Her consumer surplus would decrease.
• C)Her consumer surplus would increase.
• D)Her consumer surplus could increase or decrease depending on her demand elasticity.

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Definitions:

Nonverbal Communication

The process of conveying a message without the use of words, which can include gestures, facial expressions, body language, and tone of voice.

Body Language

Body language refers to the non-verbal cues communicated through facial expressions, gestures, posture, and bodily movements, which can convey feelings and intentions beyond spoken words.

Reverse Communication

A communication flow where information moves from the lower levels of a hierarchy to the upper levels, often used to gather feedback or inputs from employees.

Communication Strategy

A plan that outlines how to communicate effectively within an organization or between organizations.