Multiple Choice
Suppose that Irina is prepared to pay a maximum of $2.40 for her first glass of cranberry juice,but for each subsequent glass she is only prepared to pay 20 cents less than the previous one.
-What is the term for the difference between the consumer's evaluation of a product and the price which is paid for it?
A) Price discrimination.
B) Price elasticity of demand.
C) Consumer indifference.
D) Consumer surplus.
Correct Answer:

Verified
Correct Answer:
Verified
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