Refer to Figure 4-1. If the market price is $3.00, what is Kendra's consumer surplus?
A) $6.50 B) $5.50 C) $2.50 D) $0.50
D
You might also like to view...
Indifference curves are downward sloping because
A) when some of one good is taken away the consumer must be compensated with more of the other. B) higher prices mean less quantity demanded. C) higher indifference curves mean higher utility. D) Both A and B.
To make sure that no one group could dominate the direction of monetary policy, the 1913 Federal Reserve Act diffused power in all of the following ways except
A) geographically. B) between the public and private sectors. C) internationally. D) within the government.
If individuals were paid for their household production, GDP would: a. increase
b. not change, but GNP would increase. c. decrease. d. not change, but GNP would decrease.
A variety of statistical studies based on the U.S. experience suggests that when government borrowing increases by $1, private saving rises by about
a. 10 cents. b. 30 cents. c. 50 cents. d. $1.