To an economist, "value" is the same as
A) marginal cost.
B) consumer surplus.
C) the minimum price that people are willing to pay for another unit of the good.
D) marginal benefit.
E) total surplus.
D
You might also like to view...
The practice of "monetizing the debt" is traditionally feared because it is thought to cause
A) unemployment. B) inflation. C) a falling price level. D) a liquidity trap.
The pollution emitted by a power plant is an example of a detrimental externality
a. True b. False Indicate whether the statement is true or false
Total profit of a competitive firm can be found by multiplying profit per unit times units sold
a. True b. False Indicate whether the statement is true or false
Output and inflation movements can arise from either demand or supply shifts. How can we tell them apart?
What will be an ideal response?