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Author Question: Consumer surplus: a. does not exist in equilibrium. b. is illustrated by the area under the demand ... (Read 38 times)

jrubin

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Consumer surplus:
 a. does not exist in equilibrium.
  b. is illustrated by the area under the demand curve and above the market price.
  c. is illustrated by the area under the demand curve and below the market price.
  d. is illustrated by the area above the supply curve and under the demand curve.

Question 2

If Bill is willing to pay 10 for one good X, 8 for a second, and 6 for a third, and the market price is 5, then Max's consumer surplus is:
 a. 24 b. 18.
  c. 9 d. 6.



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bd5255

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Answer to Question 1

b

Answer to Question 2

c




jrubin

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Reply 2 on: Jun 30, 2018
Excellent


xoxo123

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Reply 3 on: Yesterday
Wow, this really help

 

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