Multiple Choice
Which of the following statements is not true?
A) Consumer surplus measures the difference between the highest price a consumer is willing to pay for a product and the price she actually pays.
B) Marginal benefit is the additional benefit to a consumer from consuming one more unit of a product.
C) Consumer surplus measures the net benefit from participating in a market.
D) Producer surplus measures the total benefit received by producers from participating in a market.
Correct Answer:

Verified
Correct Answer:
Verified
Q194: In a competitive market equilibrium the _
Q195: There will be no deadweight loss if
Q196: Figure 4-3 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB1236/.jpg" alt="Figure 4-3
Q197: Table 4-1<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB1236/.jpg" alt="Table 4-1
Q198: Figure 4-6 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB1236/.jpg" alt="Figure 4-6
Q200: Table 4-4<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB1236/.jpg" alt="Table 4-4
Q201: Government intervention in agricultural markets in the
Q202: The sum of consumer surplus and producer
Q203: If,in a competitive market,marginal benefit is greater
Q204: Figure 4-4 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB1236/.jpg" alt="Figure 4-4