Suppose that your demand schedule for CDs is shown in the table below.
A) Your total utility from 4 CDs would be _____.
B) Your marginal utility from the fourth CD would be _____.
C) If the price were $2, your consumer surplus would be _____.
A) $32
B) $4
C) $34 - $10 = $24
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Suppose the Federal Reserve buys $50 million worth of securities from a commercial bank. As a result, the monetary base ________, and the quantity of money will ________ $50 million due to the ________
A) increases; increase by more than; money multiplier B) decreases; decrease by more than; money multiplier C) increases; increase by more than; expenditure multiplier D) decreases; decrease by less than; expenditure multiplier E) increases; decrease by; currency drain
Refer to the figure above. What is the consumer surplus when the market changes to a monopoly?
A) $30 B) $45 C) $60 D) $90
Assume the table shown is for a hat factory, and shows the total production of hats given various numbers of employees. What is the marginal product of the fifth worker?
A. 40
B. 50
C. 30
D. 200
When the marginal tax rate equals the average tax rate, the tax is
a. proportional. b. progressive. c. regressive. d. egalitarian.