As you consume more and more of a service,
A. your consumer surplus is increasing.
B. your consumer surplus is remaining constant.
C. your consumer surplus is decreasing.
A. your consumer surplus is increasing.
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Which of the following statements is TRUE?
A) An increase in the price of gasoline will decrease the demand for gasoline. B) An increase in the price of gasoline will increase the quantity demanded of gasoline. C) An increase in the price of gasoline will increase the supply of gasoline. D) An increase in the price of gasoline will increase the quantity supplied of gasoline.
Which of the following variables will shift the classical aggregate demand curve?
a. An increase in government spending b. A decrease in taxes c. An increase in autonomous investment expenditures d. An increase in the money stock e. All of the above
In the short run, an increase in the quantity of money normally
a. has no effect; in the long run, V will increase. b. has no effect; in the long run, V will decrease. c. results in an increase in velocity. d. results in a decrease in velocity.
If demand is inelastic, an increase in the price of a good will cause total expenditures on the good to
a. fall. b. remain constant since the decrease in quantity sold is exactly offset by the price increase. c. rise. d. rise if it is a normal good and fall if it is an inferior good.