In which of the following circumstances would a buyer be indifferent about buying a good?
a. The amount of consumer surplus the buyer would experience as a result of buying the good is zero.
b. The price of the good is equal to the buyer's willingness to pay for the good.
c. The price of the good is equal to the value the buyer places on the good.
d. All of the above are correct.
d
You might also like to view...
Branding:
A. can be a barrier to entry. B. guarantees high-quality products. C. promises the differences in products are completely perceived and not real. D. All of these statements are true.
The maximin criterion can be defined as which of the following?
A. One seeks the maximum of the minimum payoffs to the various available strategies. B. One seeks the minimum of the maximum losses among the various available strategies. C. One seeks the maximum of the minimum losses to the various available strategies. D. One seeks the maximum of the maximum gains of the various available strategies.
What would make foreigners want to buy more from the United States?
A. A fall in the value of the dollar in the foreign exchange market B. Inflation in United States C. High tariffs D. Lower interest rates in the United States
A bank that cannot meet its loan commitments is experiencing the results of:
A. credit risk. B. trading risk. C. interest rate risk. D. liquidity risk.