What happens to consumer surplus

Assignment Help Business Economics
Reference no: EM13733361

The demand curve for cookies is down word sloping, when the price of cookies is $2, the quantity demanded is 100. If the price rises to $3, what happens to consumer surplus?

A. It falls by less than $100

B. It falls by more than $100

C. It Rises by less than $100

D. It rises by more than $100

Reference no: EM13733361

Questions Cloud

Government policy toward foreign direct investment : What is the importance of the political ideology as a key determinant of government policy toward Foreign Direct Investment (FDI)?
Demographic trend that has caused dramatic increases : Currently in the US there is a demographic trend that has caused dramatic increases in the number of students attending universities. The children of Baby Boomers have grown up and are ready for college.
Discuss the ethical issues relating to corporate spending : Discuss the ethical issues relating to corporate spending, both in for-profit and not-for-profit.
What might be wrong with their reasoning : Some business owners make a statement something to the effect, "We're too busy to bother with strategy. We have to take care of the present." What might be wrong with their reasoning?
What happens to consumer surplus : The demand curve for cookies is down word sloping, when the price of cookies is $2, the quantity demanded is 100. If the price rises to $3, what happens to consumer surplus?
The constant price elasticity of demand : The constant price elasticity of demand for cigarettes has been estimated to be -0.5. To reduce smoking by 50%, approximately how much tax needs to be added to a $1 pack?
International company different from domestic companies : What are the characteristics that make this international company different from domestic companies? Is this company successful? What makes this company a success or failure?
Demand for lobster is relatively low : During the spring when demand for lobster is relatively low, Maine lobster fishermen are able to sell their lobster catches for about $5.50 per pound. During the summer when demand for lobster is much higher, Maine lobster fishermen are able to sell ..
Supply and demand functions for two markets : Below are the supply and demand functions for two markets. One of the markets is for BMW automobiles, and the other is for a cancer-fighting drug, without which lung cancer patients will die. Briefly explain which diagram most likely represents which..

Reviews

Write a Review

Business Economics Questions & Answers

  Explain the unique characteristic of the four primary market

Respond to each of the following questions in 150-200 words each covering the economic topics and concepts described in chapter 9 and 10 of the text, Essentials of Health Economics.

  Explain why you classify them as nonvalue-added activities

List the activities in the doctor's office that are candidates for nonvalue-added activities. Explain why you classify them as nonvalue-added activities.

  Given the current state of the u.s. economy

What is the Federal Reserve (Fed) all about? Which Federal Reserve District Bank is closest to you? Who is the current Chairman of the Fed?

  Which limits amount of goods they can purchase

which limits amount of goods they can purchase. Preference Consumers always choose goods which give most pleasure. So how do we measure about pleasure.

  How many guitars will be sold after the tax is imposed

What proportion of the tax will be paid by the suppliers of Martin guitars? How many guitars will be sold after the tax is imposed?

  Why this duplication exists in the first place

If hospitals begin to affiliate within regions, would you expect that %u201Cunnecessary duplication of facilities%u201D would increase, decrease or stay the same?

  When you arrive at strategy class

A businesses strategic choices are limited by economic conditions. When you arrive at strategy class, you will be asked to perform an environmental analysis.

  Output and the cost level play in this adjustment

Explicate Illustrate what will happen to output and the cost level play in this adjustment.

  Q1 the government is involved in providing many goods and

q1. the government is involved in providing many goods and services. for each of the goods or services listed determine

  Find out purchase price to gain thirteen percent compounded

Find out the purchase price to gain thirteen percent compounded semiannually.

  Propose solution and recommend implementation of decision

The final submission of your project at the end of the term will be a 2000-3000 word document that you will submit to outline the problem, propose your solution, and recommend implementation of your solution.

  Calculate consumer price index in the current year

Using the information on exhibit 2 calculate the consumer price index in the current year.

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