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:

Profoundly Retarded

A term referring to individuals with a severe level of intellectual disability, often characterized by minimal capacity for sensory-motor function.

Academic Skills

encompass the abilities and competencies related to learning and academic performance, including reading, writing, arithmetic, and study skills.

IQ Score

A numerical representation of an individual's cognitive ability relative to their age group, derived from standardized intelligence testing.

Learning Disability

A neurological disorder that affects a person's ability to process, learn, and use information, often impacting reading, writing, and mathematics skills.