Consumer Surplus

Q. Consumer surplus is best described as ____________.

1. price paid
2. extra utility
3. all the above
4. sacrifice of a commodities

Q. At point of satiety, marginal utility is _____.

1. Zero
2. Positive
3. Negative
4. Maximum

Q. Define or explain the following concept.
Marginal Utility.

Q. Maximum consumer surplus arises on ________ of the commodity consumed.

1. all except last unit
2. first unit
3. second unit
4. all units