If the Cost of Producing Sofas Decreases,then Consumer Surplus in the Sofa

question 63

Multiple Choice

If the cost of producing sofas decreases,then consumer surplus in the sofa market will

• A)increase.
• B)decrease.
• C)remain constant.
• D)increase for some buyers and decrease for other buyers.

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Definitions:

Unreasonably

Acting without regard to what is fair, proper, or logical, often leading to harm or injustice.

Negligence Claim

A legal claim arising from failing to act with the level of care that someone of ordinary prudence would have exercised under the same circumstances, leading to harm or damage.

Four Elements

The fundamental components often referred to in various contexts, such as earth, water, air, and fire in nature, or the essential parts of a legal contract.

Breach Of Duty

The failure to meet legal obligations in a contract, or the violation of a duty imposed by law or agreement.