Answer: fall by less than $50.
Explanation:
The options are:
• fall by more than $50.
• fall by less than $50.
• rise by less than $50.
• rise by more than $50.
Expert Answer
Consumer surplus, is referred to as the economic measure of the excess benefit that a customer gets. The consumer surplus is the difference between the amount that the customer is willing to pay and the amount that he or she eventually pays.
Based on the question, the total Price paid is: 50 × $4 = $200
Total Revised Price = 50 × $5 = $250
Therefore, there will be a fall by $50 that's ($250 - $200).
I believe
D) all of these
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Answer:
a. Producer surplus
b. Neither
c. Consumer surplus
Explanation:
The producer surplus is the difference between the minimum price a producer is willing to accept for a product and the price he actually gets.
The consumer surplus is the difference between the maximum price a consumer is willing to pay for a product and the price he actually gets.
a. Here, the person gets $189 for his laptop but he was willing to accept $180 as well. This is an example of producer surplus. The producer surplus, in this case, is $9.
b. In this example, we only know the price that the producer actually received and the price the consumer actually paid. The maximum price the consumer was willing to pay or the minimum price that the producer was willing to accept is not mentioned. So this is neither an example of producer surplus nor consumer surplus.
c. Here, the consumer was willing to pay $47 for a sweater, but he actually has to pay $40. This is an example of consumer surplus. The consumer surplus is equal to $7.
Answer:
The correct answer is letter "C": the marginal cost and marginal benefit of the policies.
Explanation:
The Economic Perspective is a concept that involves making decisions based on the marginal costs and benefits they could carry. Those decisions must be taken because of the basic economic problem of scarcity by which people have unlimited desires but only finite sources to fulfill them.
