In Figure 6.7 at equilibrium, consumer surplus is area:
A. A.
B. A + B + C.
C. E + F + G.
D. G.
Answer: B
You might also like to view...
The figure above shows Ilene's budget line. If Ilene's income rises, her budget line will
A) rotate and become flatter. B) rotate and become steeper. C) shift rightward and its slope will not change. D) shift leftward and its slope will not change.
Money expansion stops when new reserves introduced into the banking system have been converted into: a. excess reserves
b. securities. c. deposits. d. required reserves. e. loans.
Non-tariff barriers are tools that countries use to restrict trade such as regulatory or legal barriers or slow processing of goods at borders.
Answer the following statement true (T) or false (F)
Your state department of transportation is considering installing toll booths with gates on a quiet section of highway. If this is done, a good that is currently a:
A. nonexcludable good will become an excludable good. B. public good will become a private good. C. rival good will become an excludable good. D. nonrival good will become a rival good.