Consumers' Surplus Represents

question 26

Multiple Choice

Consumers' surplus represents:

• A) total revenues.
• B) total revenues less total costs.
• C) the excess of revenues above and beyond the cost of output to producers.
• D) the value of output to consumers above and beyond the amount paid to producers.

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Definitions:

Combining Form

A linguistic unit that occurs in combination with another form to create a word with a new meaning.

International Unit

A unit of measurement for the amount of a substance, based on measured biological activity or effect.

X-ray

A form of electromagnetic radiation used in medical imaging to create pictures of the inside of the body, helping diagnose, monitor, and treat many medical conditions.

Roentgen

A unit of measurement for exposure to ionizing radiation, reflecting the amount of radiation required to create one electrostatic unit of charge in one cubic centimeter of dry air.