When Consumers Would Have Been Willing to Pay Higher Prices

question 123

Multiple Choice

When consumers would have been willing to pay higher prices at various quantities consumed than the market clearing price, the differences are called

• A)consumer surplus.
• B)monopoly profits.
• C)opportunity cost.
• D)deadweight loss.

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Definitions:

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An online platform designed to help individuals build social or professional connections.

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The key characteristic or benefit of a product that is emphasized to attract buyers.

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