Consider the market for hot dogs. As long as the marginal benefit ...

[evelyn o bentley]

Consider the market for hot dogs. As long as the marginal benefit of consuming hot dogs is greater than the price of hot dogs
 
  A) people receive consumer surplus from eating hot dogs.
  B) the price of hot dogs will rise.
  C) the value of hot dogs will rise.
  D) there is no decreasing marginal benefit of eating hot dogs.

Question 2

Consumer surplus is the
 
  A) value of a good expressed in dollars.
  B) price of a good expressed in dollars.
  C) value of a good minus the price paid for it summed over the quantity bought.
  D) value of a good plus the price paid for it summed over the quantity bought.

[tdewitt]

Answer to Question 1

Thanks for your help Worked like a charm.

Answer to Question 2

C

[evelyn o bentley]

Correct answers!

[tdewitt]

Great! Please up vote