What Happens to Consumer Surplus in the IPod Market If

question 40

Multiple Choice

What happens to consumer surplus in the iPod market if iPods are normal goods and buyers of iPods experience an increase in income?

• A)Consumer surplus decreases.
• B)Consumer surplus remains unchanged.
• C)Consumer surplus increases.
• D)Consumer surplus may increase, decrease, or remain unchanged.

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Definitions:

Personal Growth

The ongoing process of understanding and developing oneself to achieve one’s fullest potential.

Unique Qualities

Distinctive characteristics or features that set someone or something apart from others.

Educational

Pertaining to the process of teaching and learning, especially within a school or academic environment.

Self-reward

A process of giving oneself a reward to increase or maintain motivation for completing tasks or achieving goals.