In a perfectly competitive market, consumer surplus typically is
A. undefined.
B. zero.
C. negative.
D. positive.
Answer: D
You might also like to view...
In terms of which party or parties capture any gains from a land transaction, what is the difference when land is acquired through eminent domain and when land is acquired through the bargaining process?
What will be an ideal response?
Schooling is subsidized in the United States in part
A) so that the golden rule capital level can be reached. B) because otherwise people would not get educated. C) because there is a constitutional right to education. D) because there is a positive externality from schooling.
Which of the following forms of money will earn at least some interest income?
What will be an ideal response?
When average total cost is declining, then
A. marginal cost must be less than average total cost. B. marginal cost must be greater than average total cost. C. average total cost must be greater than average fixed cost. D. average variable cost must be declining.