A measure of consumer surplus in any market is
a. total expenditure on the good
b. the area above the supply curve and below the price
c. the area beneath the demand curve
d. the area beneath the demand curve and above the price
e. the market price
D
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What characteristics distinguish private goods from public goods?
Refer to the above figure. A surplus will exist when
A. the price is between $0 and $6. B. the price equals $10. C. the price equals $6. D. quantity demanded equals 15.
As Europe explored monetary union, evidence to date suggests that increased variability in exchange rates
A) reduces foreign trade and investment. B) increases foreign trade and investment. C) does not seem to have an impact on foreign trade and investment. D) hurts foreign investment but not trade.
Of the following high-income countries, which has the highest number of CT scanners per 1 million population?
A) Canada B) Japan C) the United Kingdom D) the United States