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Author Question: A drought destroys much of the peach crop. As a result, consumer surplus in the peach market: a. ... (Read 182 times)

azncindy619

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on: Jun 30, 2018
A drought destroys much of the peach crop. As a result, consumer surplus in the peach market:
 a. increases. b. decreases.
  c. remains unchanged. d. equals the deadweight loss increase.

Question 2

Consumer surplus is the:
 a. amount by which the quantity supplied of a good exceeds the quantity demanded of a good.
  b. measure of consumes' willingness to buy a good plus the price of the good.
  c. measure of how much consumers value a good.
  d. amount consumers are willing to pay for a good minus the amount the consumers actually pays for it.


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kjohnson

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Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

d


azncindy619

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Reply 2 on: Jun 30, 2018
Wow, this really help

kjohnson

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Reply 3 on: Yesterday
:D TYSM

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