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A-LevelEconomicsThe price system and the microeconomy9708/32 · Oct/Nov 2019 · Q41 Mark

What is it called when a consumer's marginal utility is greater than the price paid for the good?

(A)a Giffen good
(B)an inferior good
(C)consumer surplus
(D)producer surplus

Mark scheme

Marking points from the official mark scheme (Oct/Nov 2019). The mark or mark type is shown in brackets.

[1] C

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About this question

Topic: The price system and the microeconomy, A-Level Economics (syllabus 9708). Structured question, 1 mark.
Source: A-Level Economics, Oct/Nov 2019 Paper 3 Variant 2, question 4.

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