Author Question: Consumer surplus is the ________ summed over the quantity bought. A) marginal social benefit ... (Read 64 times)

xroflmao

  • Hero Member
  • *****
  • Posts: 515
Consumer surplus is the ________ summed over the quantity bought.
 
  A) marginal social benefit minus the marginal social cost
  B) number of dollars' worth of other goods and services forgone to obtain one more unit of a good or service
  C) value of a good or service minus the price paid for the good or service
  D) value of a good or service plus the price paid for the good or service

Question 2

A market demand curve can be constructed by
 
  A) adding the prices all consumers will pay for any given quantity.
  B) adding the quantities that all consumers buy at each price.
  C) adding the quantities that a consumer buys at the highest price.
  D) None of the above answers is correct.



annierak

  • Sr. Member
  • ****
  • Posts: 340
Answer to Question 1

Posted another one can you check that one too? Thanks.

Answer to Question 2

B



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

There are 20 feet of blood vessels in each square inch of human skin.

Did you know?

To prove that stomach ulcers were caused by bacteria and not by stress, a researcher consumed an entire laboratory beaker full of bacterial culture. After this, he did indeed develop stomach ulcers, and won the Nobel Prize for his discovery.

Did you know?

Illness; diuretics; laxative abuse; hot weather; exercise; sweating; caffeine; alcoholic beverages; starvation diets; inadequate carbohydrate consumption; and diets high in protein, salt, or fiber can cause people to become dehydrated.

Did you know?

The Centers for Disease Control and Prevention has released reports detailing the deaths of infants (younger than 1 year of age) who died after being given cold and cough medications. This underscores the importance of educating parents that children younger than 2 years of age should never be given over-the-counter cold and cough medications without consulting their physicians.

Did you know?

In ancient Rome, many of the richer people in the population had lead-induced gout. The reason for this is unclear. Lead poisoning has also been linked to madness.

For a complete list of videos, visit our video library