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 46 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?

For pediatric patients, intravenous fluids are the most commonly cited products involved in medication errors that are reported to the USP.

Did you know?

Fungal nail infections account for up to 30% of all skin infections. They affect 5% of the general population—mostly people over the age of 70.

Did you know?

People with high total cholesterol have about two times the risk for heart disease as people with ideal levels.

Did you know?

A good example of polar molecules can be understood when trying to make a cake. If water and oil are required, they will not mix together. If you put them into a measuring cup, the oil will rise to the top while the water remains on the bottom.

Did you know?

When Gabriel Fahrenheit invented the first mercury thermometer, he called "zero degrees" the lowest temperature he was able to attain with a mixture of ice and salt. For the upper point of his scale, he used 96°, which he measured as normal human body temperature (we know it to be 98.6° today because of more accurate thermometers).

Skin signs are objective evidence of an illness or disorder. They can be seen, measured, or felt. Skin signs are objective evidence of an illness or disorder. They can be seen, measured, or felt.
Closed urinary drainage system. Urine being measured after it leaves patient’s body via catheter. Closed urinary drainage system. Urine being measured after it leaves patient’s body via catheter.
The relationship of substrate con- version (as measured by optical density) to the amount of patient ... The relationship of substrate con- version (as measured by optical density) to the amount of patient ...
Particles measured, 1970 - 2008 and Trend in Organic Compound 1990 - 2007 Particles measured, 1970 - 2008 and Trend in Organic Compound 1990 - 2007
The Food Label Provides Valuable Consumer Information Manufacturers must adhere to strict labeling The Food Label Provides Valuable Consumer Information Manufacturers must adhere to strict labeling
For the circuit in Figure 1, assume ideal diodes. The peak inverse voltage is approximately For the circuit in Figure 1, assume ideal diodes. The peak inverse voltage is approximately
Video: Genetic terms Animation

For a complete list of videos, visit our video library