Multiple Choice
FIGURE 6-7
-Refer to Figure 6-7.Suppose that price is P0.The market value of the quantity purchased is given by the area
A) under the demand curve to the left of Q0.
B) under the demand curve.
C) below P0 and to the left of Q0.
D) under the demand curve and above P0.
E) under the demand curve and to the right of Q0.
Correct Answer:

Verified
Correct Answer:
Verified
Q4: Diagrams A,B,and C show 3 individual consumers'
Q5: The table below shows the total value
Q6: Consumer surplus is<br>A)the sum of the marginal
Q7: Consider the income and substitution effects of
Q8: Consider the income and substitution effects of
Q10: Assume the quantity of good X is
Q11: Suppose the price of potatoes falls and
Q12: Consider the income and substitution effects of
Q13: Marginal utility theory is about<br>A)the consumer behaviour
Q14: If total utility from the consumption of