Which of the Following Will Cause an Increase in Consumer

question 24

Multiple Choice

Which of the following will cause an increase in consumer surplus?

• A)an increase in the production cost of the good
• B)a technological improvement in the production of the good
• C)a decrease in the number of sellers of the good
• D)the imposition of a binding price floor in the market

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Definitions:

Pain Reduction

The process or methods used to decrease or alleviate physical discomfort or pain.

Placebos

Inert substances or treatments that have no therapeutic effect, used as a control in testing new drugs or given to a patient for the psychological benefit rather than for any physiological effect.

Phi Phenomenon

The phi phenomenon is a visual illusion in which stationary objects shown in rapid succession, such as a string of lights, appear to be moving.

Stroboscopic Motion

An optical illusion where continuous motion is represented by a series of short or instantaneous samples, as seen in motion pictures.