Refer to Figure 6.3. Suppose the price of pizza is $9.75. Then consumer surplus is:
A. $3.75.
B. $3.50.
C. $29.25.
D. $33.00.
A. $3.75.
You might also like to view...
Total cost divided by the total number of inputs is called:
a. marginal cost b. average cost c. total cost d. variable cost
Which of the following is excluded in the current account?
a. Goods exports. b. Goods imports. c. Capital inflow and outflow. d. Net unilateral transfers.
If many firms producing similar headphones enter the market, the demand for the headphones produced by existing firms will most likely ______.
a. be reduced b. increase c. remain constant d. fluctuate
Which of the following made tying contracts illegal and banned price discrimination with the intent to monopolize?
A. the Clayton Act B. the Cellar-Kefauver Act C. the Federal Trade Commission Act D. the Sherman Act