Which of the Following Is True

question 156

Multiple Choice

Which of the following is true?

• A)If the consumer is a buyer of several units of a good, the earlier units will have greater marginal value and therefore create more consumer surplus, because marginal willingness to pay falls as greater quantities are consumed in any period.
• B)When some units of output can be produced at a cost that is lower than the market price, the seller receives a surplus, or net benefit, from producing those units.
• C)Producer surplus is shown graphically as the area under the price and above the supply curve.
• D)At the market equilibrium both consumers and producers benefit from trading every unit up to the market equilibrium output.
• E)All of the above are true.

Learn about the biological conditions affecting sex and gender, including Klinefelter syndrome and androgen insensitivity syndrome.

Understand the concept of gender dysphoria and disorders of sex development (DSD).

Differentiate between the concepts of sex and gender.

Examine the relationship between gender roles, sexual orientation, and traditional sexual scripts.

---

Definitions:

Profit Maximization

The technique used by entities to determine the most profitable pricing and output levels.

Long-Run Equilibrium

A state in which all firms in a market or industry are making normal profits, and there is no incentive for existing firms to exit the market or for new firms to enter.

Marginal Cost

The expenditure associated with creating one more unit of a good or service.

Total Revenue

The complete amount of money received by a company for goods sold or services provided during a specific period.