Solved

If a Consumer Places a Value of $20 on a Particular

Question 85

Multiple Choice

If a consumer places a value of $20 on a particular good and if the price of the good is $25,then the


A) consumer has consumer surplus of $5 if he buys the good.
B) consumer does not purchase the good.
C) price of the good will rise due to market forces.
D) market is out of equilibrium.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q80: Alex is willing to pay $10,and Bella

Q81: Figure 7-4 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB2297/.jpg" alt="Figure 7-4

Q82: Consumer surplus is a good measure of

Q83: If a consumer is willing and able

Q84: Denise values a stainless steel dishwasher for

Q86: Figure 7-5 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB2297/.jpg" alt="Figure 7-5

Q88: Figure 7-1 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB2297/.jpg" alt="Figure 7-1

Q89: Chad is willing to pay $5.00 to

Q90: Oil is used to produce gasoline.If the

Q121: Motor oil and gasoline are complements. If