By definition, a consumer's surplus occurs when ________
A) there are more buyers for a product than units of the product available for sale
B) there are more units of a product available for sale than buyers of the product
C) consumers purchase a product at a price greater than the utility of the product
D) consumers purchase a product at a price less than the utility of the product
E) consumers assign a lower utility to a product than marketers had expected
D
You might also like to view...
Under a defined contribution pension plan,
a. the pension expense account must be determined by actuarial calculations. b. the employer guarantees the employee certain benefits upon retirement. c. accounting for annual pension expense is simple. d. the annual contribution is based on estimated future benefits.
Answer the following statements true (T) or false (F)
1. Research has shown that the first 5 minutes of a conversation are not as important as all of the rest of the time of the conversation. 2. Organizational communication has been referred to as the social glue that ties organizations together. 3. Noise only exists on the sender’s part of the communication process. 4. The message in the communication process is always written or spoken words. 5. A good way for the receiver to provide feedback to the sender to ensure that the communicated message was understood correctly is via active listening.
Citizens, unlike business customers, are committed to matters that go beyond their short-term interests and are willing to assume ________ for what happens in their neighborhoods and communities.
A) Drawbacks B) Costs C) Personal responsibility D) Jurisdictional challenges
Which of the following financial statement(s) reports both current and noncurrent assets and liabilities? Government-wide Statementof Net PositionGeneral Fund BalanceSheetA)NoYesB)NoNoC)YesNoD)YesYes
A. Choice A B. Choice B C. Choice C D. Choice D