Asked by
Kayla Disasi
on Nov 30, 2024
Verified
If the price of action figures was $12.00 each,his consumer surplus would be
A) $2.
B) $4.
C) $12.
D) $14.
E) $26.
Consumer Surplus
The contrast between the full amount consumers are willing to invest in a product or service and the actual payment they make.
Action Figures
Small figures representing a character from a movie, comic book, video game, or television program, designed for play or collection.
Marginal Utility
The added delight or usefulness a person acquires by consuming an extra unit of a good or service.
- Absorb the principles of consumer surplus and its repercussions on customer satisfaction.
- Recognize the impact of different pricing on consumer surplus and utility.
Verified Answer
SJ
Learning Objectives
- Absorb the principles of consumer surplus and its repercussions on customer satisfaction.
- Recognize the impact of different pricing on consumer surplus and utility.