This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: What is consumer surplus? How is it measured? What will be an ideal ... (Read 48 times)

naturalchemist

  • Hero Member
  • *****
  • Posts: 542
on: Jun 29, 2018
What is consumer surplus? How is it measured?
 
  What will be an ideal response?

Question 2

The FOMC no longer sets targets for M1 and M2 to meet its goals of price stability and high employment.
 
  Indicate whether the statement is true or false


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Gabe

  • Sr. Member
  • ****
  • Posts: 321
Reply #1 on: Jun 29, 2018
Answer to Question 1

Consumer surplus is the excess of the benefit received from a good over the amount paid for it. The total consumer surplus is the sum of the consumer surpluses on all the units purchased. It is measured as the area under the demand curve and above the price.

Answer to Question 2

TRUE


naturalchemist

  • Hero Member
  • *****
  • Posts: 542
Reply #2 on: Jun 29, 2018
Thank you


Gabe

  • Sr. Member
  • ****
  • Posts: 321
Reply #3 on: Jun 29, 2018
No problemo


« previous next »
 

Did you know?

The Babylonians wrote numbers in a system that used 60 as the base value rather than the number 10. They did not have a symbol for "zero."

Did you know?

The term pharmacology is derived from the Greek words pharmakon("claim, medicine, poison, or remedy") and logos ("study").

Did you know?

Aspirin may benefit 11 different cancers, including those of the colon, pancreas, lungs, prostate, breasts, and leukemia.

Did you know?

Certain rare plants containing cyanide include apricot pits and a type of potato called cassava. Fortunately, only chronic or massive ingestion of any of these plants can lead to serious poisoning.

Did you know?

Despite claims by manufacturers, the supplement known as Ginkgo biloba was shown in a study of more than 3,000 participants to be ineffective in reducing development of dementia and Alzheimer’s disease in older people.

Pulmonary function test: spirometry. (a) Normal respiratory volumes, as measured during spirometry. Pulmonary function test: spirometry. (a) Normal respiratory volumes, as measured during spirometry.
The declining age of menarche over the past 150 years has been measured in many European countries, The declining age of menarche over the past 150 years has been measured in many European countries,
Cultures Ideal Body Types Cultures Ideal Body Types
The Number of Children Americans Think Are Ideal The Number of Children Americans Think Are Ideal
Particles measured, 1970 - 2008 and Trend in Organic Compound 1990 - 2007 Particles measured, 1970 - 2008 and Trend in Organic Compound 1990 - 2007
Under ideal conditions, a single cell of the bacterium E. coli would divide every 20 minutes to ... Under ideal conditions, a single cell of the bacterium E. coli would divide every 20 minutes to ...
Video: Prone Position

For a complete list of videos, visit our video library