The above figure shows the market demand curve for telecommunication while driving one's car (time spent on the car phone). At the current price of 35¢ per minute, consumer surplus equals
A) $301.
B) $924.50.
C) $1,225.50.
D) $1,250.
B
You might also like to view...
The consumption function shows the relationship between the income received by the economy’s households and the
a. amount they plan to spend on currently produced final output. b. amount of government spending. c. amount businesses plan to spend on investment. d. level of taxes on personal income.
If it costs $6.00 to go to the movies and $25.00 to go to a hockey game, Tom is maximizing his utility between movies and hockey if his marginal utility of movies is 12 units and his marginal utility from hockey is 50
Indicate whether the statement is true or false
Lorna's Lumberyard is a monopsony. Lorna estimates that at a wage of $10 per hour, 100 workers would be willing to work for her. Similarly, at a wage of $12 per hour, 200 workers would be willing to work. Her marginal labor cost is
a. $10 b. $14 c. $120 d. $140 e. $240
When a country's current account balance is added to its capital account balance, the sum should be:
A. positive. B. zero. C. negative. D. twice the current account.