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Author Question: Consumer surplus measures A) the extra amount that a consumer must pay to obtain a marginal unit ... (Read 79 times)

bobypop

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on: Jul 1, 2018
Consumer surplus measures
 
  A) the extra amount that a consumer must pay to obtain a marginal unit of a good or service.
  B) the excess demand that consumers have when a price ceiling holds prices below their equilibrium.
  C) the benefit that consumers receive from a good or service beyond what they pay.
  D) gain or loss to consumers from price fixing.

Question 2

An individual with a constant marginal utility of income will be
 
  A) risk averse.
  B) risk neutral.
  C) risk loving.
  D) insufficient information for a decision


Liamb2179

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

C

Answer to Question 2

B


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bobypop

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Reply #2 on: Jul 1, 2018
Thank you


Liamb2179

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Reply #3 on: Jul 1, 2018
No problemo


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