Consumer Surplus Is

question 162

Multiple Choice

Consumer surplus is:

• A)the area underneath the demand curve.
• B)the total utility derived from consuming a good.
• C)the marginal utility of the last unit consumed multiplied by the number of units consumed.
• D)the difference between what consumers are willing to pay and what they are required to pay for a good.
• E)the dollar amount spent acquiring a good.

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Definitions:

Do Your Best Goal

A motivational objective that encourages individuals to perform at their maximum capability without setting a specific performance target.

Expectancy Theory

A motivation theory suggesting that individuals are likely to act in a certain way based on the expectation that the act will be followed by a given outcome and the attractiveness of that outcome.

Instrumentality

The perceived relationship between performance and the attainment of desired outcomes, in the context of motivation theory.

Equity Theory

A concept in social psychology that suggests individuals determine the fairness of their job outcomes by comparing themselves to others.