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Author Question: Suppose Sam buys a good for 100 at a yard sale. If consumer surplus from the sale is 75, Sam would ... (Read 135 times)

vinney12

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on: Jun 30, 2018
Suppose Sam buys a good for 100 at a yard sale. If consumer surplus from the sale is 75, Sam would have been willing to pay:
 a. 100 b. 175.
  c. 25 d. equal to the deadweight loss.

Question 2

A drought destroys much of the grape crop. As a result, consumer surplus in the market for wine:
 a. decreases. b. increases.
  c. remains unchanged. d. depends on the deadweight loss.


juiceman1987

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Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

a


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