A point on the demand curve shows the
A) minimum price that people are willing to pay for another unit of a good.
B) dollars' worth of other goods that people must sacrifice to consume another unit of the good.
C) maximum price that people are willing to pay for another unit of a good.
D) consumer surplus a person gains from consuming a unit of a good.
E) marginal benefit minus the consumer surplus from consuming another unit of a good.
C
You might also like to view...
China currently has a policy to subsidize grain production to keep farmers' income up. It sets a target price for the state purchase of the grains. Currently the price is higher than the world price. China's policy has led to:
a. Increases in the domestic stocks of grain b. Decreases in the state purchases of grain c. Shortages of grain in China d. Reduction of imported grain for the use in livestock feed e. a and d
A government agency is having problems with personal telephone calls made during working hours. Because each minute of a personal call costs the agency $0.50 in wasted wages, it has decided to hire operators to monitor calls. The agency wants to hire the number of operators that will minimize the total cost of personal calls. 
Based on the above information, what is the most the agency would be willing to pay the fifth operator?
A. $100 B. $400 C. $200 D. $500 E. none of the above
The idea behind clustering is that each part of a network is ________ productive operating in isolation, so if governments can push each element of the cluster in unison, they should realize ________ in productivity.
A. far less; huge gains B. far less; huge losses C. far more; huge gains D. far more; huge losses
The short-run aggregate supply curve:
A. ?Is a schedule showing the relationship between the price level and the quantity of real GDP supplied. B. ?Is typically upward sloping. C. reflects output prices changing relative to input prices. D. ?all of the above