Which of the Following Statements Is Correct

question 107

Multiple Choice

Which of the following statements is correct?

• A) Consumer surplus equals the price paid for a good.
• B) The consumer surplus from a good is always larger than the total benefit from the good.
• C) An increase in price decreases consumer surplus.
• D) An increase in price has no effect on consumer surplus.
• E) The consumer surplus from a good or service must always equal producer surplus.

Calculate the change in quantities, such as time or salary, resulting from percentage increases or decreases.

Identify the percentage composition of different categories within a total amount to analyze financial distributions.

Develop skills in performing reverse percentage calculations to deduce original quantities before percentage changes.

Understand the basic molecular structure of different biomolecules (carbohydrates, lipids, nucleic acids, proteins).