Buy the good and receive a consumer surplus

Assignment Help Business Economics
Reference no: EM13818108

Suppose that you are willing to pay $10 for a good and the market price is $15. In this case:

A) you will not buy the good.

B) you will buy the good and receive a consumer surplus of -$5.

C) you will buy the good and receive a consumer surplus of $5.

D) you will buy the good and receive a consumer surplus of -$15.

Reference no: EM13818108

Questions Cloud

When a tax is levied on a good or service : When a tax is levied on a good or service, the following will happen:
Tax levied on the producer of cars will cause : A $150 tax levied on the producer of cars will cause:
The market price of tilapia : If the market price of tilapia is $1.60 per pound but the government will not allow tilapia farmers to charge more than $1.20 per pound of tilapia, which of the following will happen?
The government imposes a maximum price on apartments : The government imposes a maximum price on apartments that is below the equilibrium price.
Buy the good and receive a consumer surplus : Suppose that you are willing to pay $10 for a good and the market price is $15. In this case: you will buy the good and receive a consumer surplus of -$5.
Advantages and disadvantages of autocratic leadership : 1. Describe a situation from your experience where you disagreed with a leadership style used by your superior. What did you do to remedy the situation without being disloyal? Would you do the same thing again? What are the advantages and disadvantag..
The quantity demanded of a good falls : If the quantity demanded of a good falls by 2% when income rises by 10%, then:
General function of law : Which of the following is NOT a general function of law. An official notice that the us supreme court will hear a case is called
Describe qualities that are important to leaders success : Describe qualities that are important to the leader's success. Analyze how differences in the various situations faced by different leaders may impact leadership effectiveness.

Reviews

Write a Review

Business Economics Questions & Answers

  Calculate velocity of money when price level

Calculate velocity of money when price level is 10, national quantity of output is $200 billion and money supply is $250 billion.

  Companies that reduce their margins on export products in

Companies that reduce their margins on export products in the face of appreciation of their home currency may be motivated by a desire to

  Q1 assume a small nation has following statistics its

q1. assume a small nation has following statistics its consumption expenditure is 15 million investment is 2 million

  Patents and copyrights, which reflects a free market

Between patents and copyrights, which reflects a free market, and which is a grant of monopoly privilege by the state? Patents give inventors or developers of new products

  Q1 the government of new holland is experiencing lower

q1. the government of new holland is experiencing lower energy costs due to new technology in extracting energy sources

  Who operates industry a monopoly and seeks maximize profit

who operates the industry as a monopoly and seeks to maximize profits from the sale of computers. Elucidate which of the following is a likely consequence of the monopolization of the industry.

  Decreasing returns to scale imply that

Decreasing returns to scale imply that.  When average cost is falling, marginal cost is ____________ and when average cost is rising, marginal cost is _________________.  If the price of an input changes, there will be a new expansion path. As long a..

  A description of the differences in how each theory addresse

A personal experience to explain the relationship between virtue, values, and moral concepts as they relate to one of the three theories.

  Calculate the arc price elasticity

Sales are 3,100 at a price of $200 and 2,400 at a price of $300. Calculate the price of elasticities of demand using $200 as the base value; then use $300 as the base value. Calculate the arc price elasticity and compare the three calculations. How d..

  Construct a contingency table

Construct a contingency table by using the following information: 89% entrepreneurs by choice. 11% entrepreneurs by necessity

  What is marginal benefits and marginal costs

After paying the movie distributors and meeting all other noninterest expenses, the owner expects to net $2 per ticket sold. Construction costs are $1,000,000 per screen. What is marginal benefits and marginal costs.

  Why firms rarely worry about the availability

In markets economics, firms rarely worry about the availability of inputs to produce their products, whereas in command economies input availability is a constant concern. Why the diference.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd