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Author Question: What is consumer surplus? a. The maximum willingness to pay for a unit of a product b. The price ... (Read 44 times)

cherise1989

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on: Jul 1, 2018
What is consumer surplus?
 a. The maximum willingness to pay for a unit of a product
 b. The price that an individual pays in equilibrium for a product
 c. The difference between how much an individual is willing to pay for a product and how much he ends up paying
  d. How many units are traded in equilibrium

Question 2

If the boxing match will be the fight of the century which has dramatically increased Sally's payoffs for going to the fights, even without Sam, and Sam knows that, what would the Nash equilibrium be now?
 a. Boxing, boxing
  b. Ballet, ballet
 c. Ballet, boxing
 d. Boxing, boxing


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juliaf

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Reply #1 on: Jul 1, 2018
Answer to Question 1

c

Answer to Question 2

a


cherise1989

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Reply 2 on: Jul 1, 2018
Thanks for the timely response, appreciate it

cassie_ragen

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Reply 3 on: Yesterday
:D TYSM

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