Multiple Choice
If the demand price for the 2,000th unit of a good is $10, then
A) total consumer surplus for 2,000 units is $10,000.
B) the economic value of the 2,000th unit is $10.
C) consumer surplus for the 2,000th unit can be computed by subtracting the supply price for the 2,000th unit.
D) the net gain to society from the production and consumption of the 2,000th unit can be computed by subtracting the supply price from $10.
E) Both b and d
Correct Answer:
Verified
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