Consumer surplus equals
A) producer surplus at a market equilibrium.
B) marginal benefit minus price, summed over the quantity consumed.
C) price minus marginal cost.
D) the deadweight loss if there is underproduction.
E) the deadweight loss plus the producer surplus.
B
You might also like to view...
Refunding the debt refers to
a. selling new bonds to raise money to pay off maturing bonds. b. raising taxes to lower the national debt ceiling. c. raising the debt ceiling to allow the government to issue more debt. d. Fed purchases of government bonds in the open market.
When the rate of interest is 10 percent, the present value of $100 payable in two years is approximately
A. $80. B. $110. C. $100. D. $83.
Earning a master's degree in Engineering is an example of
A. economic income. B. a Pareto good. C. an investment in human capital. D. a compensating differential.
In the production function Y = AF(K, N), A is ________, K is ________, and N is ________.
A. the productivity of labor; the capital stock; the size of the labor force B. the productivity of labor; investment; the size of the labor force C. total factor productivity; the capital stock; the number of workers employed D. total factor productivity; investment; the number of workers employed