Which best describes consumer surplus?
Consumer surplus

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Sofian Ali
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5 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The price consumers are willing to pay
The cost of providing a unit
The profit made by a firm
Non is correct
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Hassan is willing to pay $20 to see the Conjuring movie for the 4th time. He finds a theater showing the movie for $5. Hassan's consumer surplus is
$5
$15
$20
$25
3.
MULTIPLE CHOICE QUESTION
30 sec • 12 pts
If you pay a price exactly equal to your willingness to pay, then
your consumer surplus is $0
your willingness to pay is less than your consumer surplus
your consumer surplus is negative
you place little value on the good
4.
MULTIPLE CHOICE QUESTION
1 min • 12 pts
When the price is P1, consumer surplus is
A
A + B
A + B + C
A + B + D
5.
MULTIPLE CHOICE QUESTION
30 sec • 12 pts
When the price rises from P1 to P2, consumer surplus
Increases by an amount equal to A
Decreases by an amount equal to B + C
Increases by an amount equal to B + C
Decreases by an amount equal to C
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