Multiple Choice
Jenny liked a pair of sapphire earrings and thought they would cost around $1,000.She was surprised to find that the price of the earrings was $1,500.However,she decided to buy the earrings anyway.This scenario describes
A) consumer surplus.
B) producer surplus.
C) consumer profit.
D) producer profit.
Correct Answer:
Verified
Correct Answer:
Verified
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