Fred's demand schedule for movie DVDs is as follows: At $30, he would buy 1; at $25, he would buy two; at $15, he would buy 3; and at $10, he would buy 4 . If the price of movie DVDs equals $25, the consumer surplus Fred receives from purchasing movie DVDs would be:
a. zero.
b. $5
c. $25.
d. $55.
b
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The GDP per capita of the U.S. economy is larger than the GDP per capita of Germany, which proves that the standard of living in the United States is higher than in Germany.
Select whether the statement is true or false. A. True B. False
A result of a positive externality in the production of a good is that
A. the price system will over-allocate resources to the production of that good or service. B. the market demand will be too high. C. the price system will under-allocate resources to the production of that good or service. D. the market supply will be too high.
How does insurance reduce risk?
What will be an ideal response?
An increase in perceived risk of foreign assets increased both the financial account surplus and current account deficit in the United States during the late 1990s
Indicate whether the statement is true or false