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Author Question: Alice is willing to pay 3 for the second slice of pizza she eats. The price she pays is 2. Alice's ... (Read 111 times)

pane00

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on: Jun 29, 2018
Alice is willing to pay 3 for the second slice of pizza she eats. The price she pays is 2. Alice's consumer surplus for this slice of pizza equals
 
  A) 0.
  B) 1.
  C) 2.
  D) 3.

Question 2

In the short run, the intersection of the aggregate demand and the short-run aggregate supply curves,
 
  A) determines the equilibrium price level.
  B) is a point where there is neither a surplus nor a shortage of goods.
  C) determines the equilibrium level of real GDP.
  D) All of the above answers are correct.


apple

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Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

D


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