Monique buys a new television for $795. She receives consumer surplus of $355 from the purchase. How much does Monique value her television?
A) $355 B) $440 C) $795 D) $1150
D
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Refer to Figure 4.2. The dominant strategy for Ferris is to
A) go to the movie theater. B) go to the bowling alley. C) go to either the movie theater or to the bowling alley. D) Ferris does not have a dominant strategy.
The excess capacity theorem states that
A. society is worse off with fewer monopolistic competitors. B. costs of production under monopolistic competition can be lowered by reducing the number of producers. C. lack of excess capacity leads to shortages during periods of unexpected growth in demand for goods produced by monopolistic competition. D. there is too much choice in our economy.
What is one reason activists might lobby the government for regulation limiting the production of a product to less than would normally be in a perfectly competitive market?
A) They value consumer surplus more than producer surplus. B) They value producer surplus more than consumer surplus. C) They seek to avoid future regulation. D) They seek to minimize total surplus.
As interest rates rise, more and more investments become profitable for a firm
a. True b. False Indicate whether the statement is true or false