The value that consumers get (from consuming a product) over and above what they actually paid for the product is called
A. consumption expenditures.
B. consumer surplus.
C. consumer demand.
D. consumer utility.
Answer: B
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If net exports increase by 250 and the mpc is 0.75, equilibrium aggregate output increases by
A) 250. B) 500. C) 750. D) 1000.
After the U.S. introduces of a tariff in the market for phones, the price of phones in the U.S. will
a. decrease b. increase c. remain the same d. change in an indeterminate manner
On a secondary stock market, such as the New York Stock Exchange,
a. firms sell new issues of stock b. firms make initial public offerings c. previously issued bonds are sold and resold d. previously issued shares of corporations are sold and resold e. firms sell newly issued bonds
Suppose that entry of new firms into an industry significantly increases the market demand for a key input. If supply of the key input is very price inelastic, then, for each firm in the industry in the long run,
a. external diseconomies shift its entire ATC curve upward b. external economies shift its entire ATC curve downward c. external diseconomies move it to the left along its original ATC curve d. diseconomies of scale shift its entire ATC curve upward e. economies of scale shift its entire ATC curve downward