Total surplus is the area_______________?

Related Mcqs:

Consumer surplus is the area ?

A. below the demand curve and above the price. B. above the supply curve and below the price. C. above the demand curve and below the price. D. below the supply curve and above the price. E. below the demand curve and above the supply curve...

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....

A buyer’s willingness to pay is that buyer’s ?

A. minimum amount they are willing to pay for a good B. producer surplus. C. consumer surplus D. maximum amount they are willing to pay for a good E. none of these answers...

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...