Alex is willing to pay $10, and Bella is willing to pay $8, for 1 pound of ribeye steak. When the price of ribeye steak increases from $9 to $11,

a. Alex experiences a decrease in consumer surplus, but Bella does not.
b. Bella experiences a decrease in consumer surplus, but Alex does not.
c. both Bella and Alex experience a decrease in consumer surplus.
d. neither Bella nor Alex experiences a decrease in consumer surplus.


a

Economics

You might also like to view...

Which of the following is an example of a good that is excludable and nonrivalrous?

a. A fishery. b. Cable television. c. Over the air television broadcasts. d. Disney World.

Economics

The profit-maximizing rule for a firm in a monopolistic competitive market is to select the quantity at which...

Economics

Profit per unit is


A. TF.
B. TG.
C. SH.
D. GF.

Economics

In response to Economist Jeffrey Sachs' big push theory:

A. NATO funded 13 Millennium Villages. B. the UN developed 8 Millennium Development Goals. C. the UN declared a moratorium on all foreign aid. D. the U.S. funded half of NATO's village project.

Economics