Consider a good that you do not like at all, perhaps turnips. Given the market price for turnips, what would be your consumer surplus?
What will be an ideal response?
Your consumer surplus will be zero. If you do not like turnips your willingness to pay will be zero. Therefore your willingness to pay will always be less than price and so you will never buy turnips. If you do not buy turnips your consumer surplus must be zero.
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What will be an ideal response?
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What will be an ideal response?
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a. True b. False Indicate whether the statement is true or false
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