In the figure above, at the market price of $15, the consumer surplus equals
A) $10,000.
B) $30,000.
C) $40,000.
D) 2,000 units.
E) $20,000.
A
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Which one of the following institutions manages Ireland's monetary policy?
(a) The Federal Reserve Bank in America. (b) The Bank of England. (c) The European Central Bank in Frankfurt. (d) The Bank of Ireland.
How does ‘consumer sovereignty’ determine the types and quantities of the goods produced in an economy?
Please provide the best answer for the statement.
If the government increases its spending but does NOT raise taxes
A. the government will have to raise expenditures or lower taxes the next year. B. the government will have to borrow funds. C. aggregate demand will increase without any effect on the price level. D. the government will have to reduce the money supply.
Fast food restaurants produce a range of menu items such as hamburgers, chicken sandwiches, salads, and french fries. What fundamental economic question are they addressing by offering this range of items?
A) How to produce goods that consumers want? B) Why produce a variety of menu items? C) What to produce? D) Who to produce the menu items for?