Brett buys a new cell phone for $100. He receives consumer surplus of $80 from the purchase. How much does Brett value his cell phone?
A) $180
B) $100
C) $80
D) $20
Answer: A
You might also like to view...
Under the Patient Protection and Affordable Care Act (ACA), residents who do not have health insurance will not be allowed to seek employment
Indicate whether the statement is true or false
Interest rates are positive mainly because
A) of inflation. B) people tend to prefer the present to the future. C) people tend to prefer the future to the present. D) bankers are greedy.
Government decisions about the level of taxation and public spending are called:
A. fiscal policy. B. monetary policy. C. congressional policy. D. legislative budgeting policy.
Evidence suggests that as the importance of what's at stake grows, loss aversion:
A. does not change. B. is reversed. C. becomes much less pronounced. D. becomes even more pronounced.