What Must Be True for a Consumer to Buy a Good

question 270

Multiple Choice

What must be true for a consumer to buy a good or service?

• A) The price must be equal to or less than the marginal benefit.
• B) The total benefit received must equal the total spent to buy the good or service.
• C) The consumer must be able to obtain some consumer surplus.
• D) The consumer must not be able to produce the product.
• E) The price must be equal to or greater than the marginal benefit.

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Definitions:

Joint Costs

The costs that are incurred in the production of multiple products up until the point where the products are separable.

Processed Further

A term in cost accounting referring to additional operations or processing steps applied to a product after the initial manufacturing phase.

Crushing Process

A method in material processing where large pieces are reduced to smaller sizes, often used in mining and waste management.

Industrial Fiber

Engineered fibers used in manufacturing for their specific properties, such as strength, flexibility, or resistance to heat.