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sveta [45]
3 years ago
5

Consumer surplus is A. the difference between the highest price a consumer is willing to pay and the price the consumer actually

pays. B. the difference between the highest price a consumer is willing to pay and the lowest price a firm would be willing to accept. C. the highest price a consumer is willing to pay to consume a good or service. D. the difference between the highest price a consumer is willing to pay and marginal benefit. E. the difference between the lowest price a firm would be willing to accept and the price it actually receives. How does consumer surplus change as the equilibrium price of a good rises or​ falls? As the price of a good​ rises, consumer surplus ▼ remains unchanged decreases increases ​, and as the price of a good​ falls, consumer surplus ▼ increases decreases remains unchanged .
Business
1 answer:
ss7ja [257]3 years ago
3 0

Answer is A

Explanation: Consumer surplus actually happens when a customer is willing and ready to pay for a particular product than its current market price. It is a measure of the additional benefits a consumer gets after paying for a product even though they are willing to pay more.

For example: Let's assume you want to get a IPhone 8 plus and you value it at $800 dollars, which you are ready to pay, but realise it is sold at $700. When you buy it at $700, the customer surplus is $100, that is a difference between how much you were willing to pay and the price you eventually got it.

Consumer Surplus changes as the equilibrium price of a good rises or falls. If the price of a good rises, the consumer surplus decreases but when the price of the good falls, the consumer surplus increases.

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Yuri [45]

Based on the question above, the correct answer goes thus:

  • 2. a and b and cand d

<h3>Chart</h3>

  • A chart is a graphical representation for data visualization, in which the data is represented by symbols, such as bars in a bar chart, lines in a line chart, or slices in a pie chart.

  • It can show tabular numeric data, functions or some kinds of quality structure and provides different information.

In conclusion,we can conclude that a chart can show, Comparison, Distribution, Composition and Relationship.

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The free market economy is the one where the buyers & sellers should freely select to buy or make.

The following information related to the free market economy is:

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Therefore we can conclude that the free market economy is the one where the buyers & sellers should freely select to buy or make.

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