Multiple Choice
If you had been willing to pay €2.19 for the litre of milk purchased at the supermarket but were required to pay only €1.29, you have gained
A) a refund of €0.90 from the cashier.
B) a consumer surplus amounting to €0.90.
C) excess marginal benefit of €2.19.
D) producer surplus of €0.90.
Correct Answer:
Verified
Correct Answer:
Verified
Q4: Welfare economics is the study of<br>A)the well-being
Q6: An example of positive analysis is studying<br>A)how
Q40: The major advantage of allowing free markets
Q41: If a market is efficient, then<br>A) the
Q42: A competitive market outcome<br>A) maximizes total surplus.<br>B)
Q43: This table refers to five possible
Q45: If a buyer's willingness to pay for
Q47: An increase in the price of a
Q48: Total surplus is the area<br>A) above the
Q49: Consumer surplus is a good measure of