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Answer : 4. "Needs"
In which case the consumer surplus is maximum?
5Q:
In which case the consumer surplus is maximum?
- 1Durable goodsfalse
- 2Vilasfalse
- 3Restfalse
- 4Needstrue
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Answer : 4. "Needs"
Explanation :
Consumer surplus is highest in the case of necessities because consumers would be willing to pay a very high price as it is essential for their survival.