The maximum price that a buyer is willing to pay for a good measures his
A) consumer surplus.
B) marginal benefit.
C) willingness to pay.
D) producer surplus.
Answer: C
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If Microsoft sells a bond in London and it is denominated in dollars, the bond is a
A) Eurobond. B) foreign bond. C) British bond. D) currency bond.
A reduction in business expectations, combined with the imposition of new tariffs by major trading partners, would have what effect on aggregate demand? a. AD would increase
b. AD would decrease. c. AD would stay the same. d. AD could either increase or decrease, depending on which change was of a greater magnitude.
Where marginal cost is less than average cost,
a. opportunity cost must have been excluded from the calculation of marginal cost. b. marginal cost must be falling. c. marginal cost must be rising. d. marginal cost may be rising, falling, or constant.
The entire group of buyers and sellers of a particular good or service makes up:
A. the demand curve. B. the equilibrium price and quantity. C. the supply curve. D. a market.