Author Question: Consumer surplus measures A) the extra amount that a consumer must pay to obtain a marginal unit ... (Read 91 times)

bobypop

  • Hero Member
  • *****
  • Posts: 539
Consumer surplus measures
 
  A) the extra amount that a consumer must pay to obtain a marginal unit of a good or service.
  B) the excess demand that consumers have when a price ceiling holds prices below their equilibrium.
  C) the benefit that consumers receive from a good or service beyond what they pay.
  D) gain or loss to consumers from price fixing.

Question 2

An individual with a constant marginal utility of income will be
 
  A) risk averse.
  B) risk neutral.
  C) risk loving.
  D) insufficient information for a decision



Liamb2179

  • Sr. Member
  • ****
  • Posts: 365
Answer to Question 1

C

Answer to Question 2

B



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question


 

Did you know?

In ancient Rome, many of the richer people in the population had lead-induced gout. The reason for this is unclear. Lead poisoning has also been linked to madness.

Did you know?

Opium has influenced much of the world's most popular literature. The following authors were all opium users, of varying degrees: Lewis Carroll, Charles, Dickens, Arthur Conan Doyle, and Oscar Wilde.

Did you know?

Eat fiber! A diet high in fiber can help lower cholesterol levels by as much as 10%.

Did you know?

Women are 50% to 75% more likely than men to experience an adverse drug reaction.

Did you know?

There are immediate benefits of chiropractic adjustments that are visible via magnetic resonance imaging (MRI). It shows that spinal manipulation therapy is effective in decreasing pain and increasing the gaps between the vertebrae, reducing pressure that leads to pain.

For a complete list of videos, visit our video library