Medical care clearly enhance people’s lives. Therefore, we should consume medical care until ?

Related Mcqs:

If a buyer’s willingness to pay for a new Honda is Rs20,000 and she is able to actually buy it for Rs18,000 her consumer surplus is ?

A. Rs18,000 B. Rs20,000 C. Rs2,000 D. Rs0....

An increase in the price of a good along a stationary demand curve ?

A. improves the material welfare of the buyers. B. decrease consumer surplus C. improves market efficiency. D. increase consumer surplus....

If a benevolent social planner chooses to producer less than the equilibrium quantity of a good, then ?

A. total surplus is maximized B. the value placed on the last unit production by buyers exceeds the cost of production. C. producer surplus is maximized D. the cost of production on the last unit produced exceeds the value placed on it by buyers. E. consumer surplus is maximized...

Suppose that the price of a new bicycle is Rs300 Natalie values a new bicycle at Rs 400 it costs Rs200 for the seller to produce the new bicycle. What is the value of total surplus if Natalie buys a new bike ?

A. Rs500 B. Rs300 C. Rs200 D. Rs400...

Adam smith’s invisible hand concept suggests that a competitive market outcome ?

A. maximizes total surplus B. generates equality among the members of society C. minimizes total surplus D. both maximizes total surplus and generates equality among the members of society...