(Figure: Consumer Surplus III) Look at the figure Consumer Surplus III. In the figure, when the price falls from $30 to $25, consumer surplus ________ for a total consumer surplus of ________.
A) increases by $15; $64
B) increases by $5; $54
C) decreases by $15; $34
D) increases by $25; $74
A) increases by $15; $64
You might also like to view...
Who gains from international trade?
A) only the exporting nation B) only the importing nation C) both the importing and the exporting nations D) neither the importing nor the exporting nations E) The gain depends on which nation gets to keep the total revenue from the sale.
Trades between risk lovers and risk takers
a. Move assets to lower-value use b. Move assets to higher value use c. Create wealth d. Both B&C
Why do we say that the demand for labor is a derived demand?
As disposable income goes up, the:
A. average propensity to consume falls. B. average propensity to save falls. C. volume of consumption declines absolutely. D. volume of investment diminishes.