This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Consumer surplus is the: A) difference between the buyer's reservation value and the price he ... (Read 22 times)

formula1

  • Hero Member
  • *****
  • Posts: 666
on: Jun 29, 2018
Consumer surplus is the:
 
  A) difference between the buyer's reservation value and the price he actually pays.
  B) product of a buyer's reservation value and the price he actually pays.
  C) sum of a buyer's reservation value and the price he actually pays.
  D) ratio of a buyer's reservation value to the price he actually pays.

Question 2

How does an unusually warm winter affect the equilibrium price and quantity of gloves?
 
  A) It raises both the price and the quantity.
  B) It raises the price and decreases the quantity.
  C) It lowers the price and increases the quantity.
  D) It lowers both the price and the quantity.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

livaneabi

  • Sr. Member
  • ****
  • Posts: 328
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

D


formula1

  • Member
  • Posts: 666
Reply 2 on: Jun 29, 2018
Gracias!

dreamfighter72

  • Member
  • Posts: 355
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

Warfarin was developed as a consequence of the study of a strange bleeding disorder that suddenly occurred in cattle on the northern prairies of the United States in the early 1900s.

Did you know?

Hyperthyroidism leads to an increased rate of metabolism and affects about 1% of women but only 0.1% of men. For most people, this increased metabolic rate causes the thyroid gland to become enlarged (known as a goiter).

Did you know?

The average human gut is home to perhaps 500 to 1,000 different species of bacteria.

Did you know?

Eating carrots will improve your eyesight. Carrots are high in vitamin A (retinol), which is essential for good vision. It can also be found in milk, cheese, egg yolks, and liver.

Did you know?

The eye muscles are the most active muscles in the whole body. The external muscles that move the eyes are the strongest muscles in the human body for the job they have to do. They are 100 times more powerful than they need to be.

Alan Price - Poor People Alan Price - Poor People
For some Americans, religion is an “easy-going, makes-little-difference” matter, as expressed in ... For some Americans, religion is an “easy-going, makes-little-difference” matter, as expressed in ...
Real Price of Oil, 1861–2010 Real Price of Oil, 1861–2010
Difference Between a Sidereal Month and a Synodic Month Difference Between a Sidereal Month and a Synodic Month
Resting Membrane Potential: Voltage Difference Resting Membrane Potential: Voltage Difference
Difference of Squares Difference of Squares
Video: Introduction to Spirometry

For a complete list of videos, visit our video library