Which of the Following Statements Best Describes the Concept of Consumer

question 90

Multiple Choice

Which of the following statements best describes the concept of consumer surplus?

• A)"I paid $89 for a microwave oven last week.This week the same store is selling the same microwave oven for $69."
• B)"I sold my hard copy of Harry Potter and the Half-Blood Prince to a used book store for $10 even though I was willing to sell it for $5."
• C)"Target was having a sale on tube socks so I bought 5 pairs."
• D)"I was going to pay $200 for new sunglasses that I had seen at the Oakley store but I ended up paying only $140 for the same sunglasses."

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Definitions:

Market Potential

The maximum total sales of a product or service that all sellers could achieve in a specific market segment during a certain time period, under ideal conditions.

Sales Management

The practice of directing and controlling sales operations and teams to achieve set sales targets and objectives.

Social Media

Internet-based applications that enable users to create their own content and share it with others who access these sites.

Online

Connected to, served by, or available through a system and especially a computer or telecommunications system (such as the Internet).