If Stephanie Buys a Laptop for $700 and the Maximum

question 52

Multiple Choice

If Stephanie buys a laptop for $700 and the maximum she would have paid was $1,000, which of the following is true?

• A)​Stephanie received consumer surplus of $1,000.
• B)​Stephanie received producer surplus of $700.
• C)​Stephanie received a consumer surplus of $700.
• D)​Stephanie received a consumer surplus of $300.

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Definitions:

Phenotypes

The observable physical or biochemical characteristics of an organism, as determined by both genetic makeup and environmental influences.

Conditional Strategy

A behavioral strategy that varies depending on the conditions or context in which an individual finds itself.

Sexual Selection

A mechanism of evolution where certain traits increase an individual's chance of reproducing by making them more attractive or superior in competition for mates.

Sex Role Reversal

A situation in which the traditional reproductive roles of males and females are exchanged.