Based on this consumer surplus graph, which glass of iced tea gives Emily the greatest consumer surplus?
a. the first
b. the second
c. the third
d. the fourth
a. the first
You might also like to view...
Which of these variables remains exogenous throughout Chapter 3?
A) the interest rate B) investment C) price level D) all of the above
_____ unemployment is experienced by a customer service representative who is laid off from a job because new technology reduces the need for people to handle customer service inquiries
a. Seasonal b. Cyclical c. Voluntary d. Structural e. Frictional
When a slice of pizza at the student union sold for $2, Moe did not purchase any. When the price fell to $1.75, Moe purchased a slice each day for lunch. Thus, we can infer that Moe's reservation price for a slice of pizza is:
A. less than $1.75. B. exactly $1.75. C. exactly $2.00. D. at least $1.75 but less than $2.
Public goods are always provided by the government because private markets do not have an incentive to provide them.
Answer the following statement true (T) or false (F)