
Microeconomics 9th Edition by Stephen Slavin
Edition 9ISBN: 9780077426767
Microeconomics 9th Edition by Stephen Slavin
Edition 9ISBN: 9780077426767 Exercise 3
If this year's Nobel Prize winner in physics gives a free lecture at your school and just eight people attend, you may conclude that ________.
A) no one derived any utility from his lecture
B) none of the people who attended would have come if there had been an admission fee
C) the lecture must have been at an inconvenient time.
D) at least some of the people who attended enjoyed a consumer surplus.
A) no one derived any utility from his lecture
B) none of the people who attended would have come if there had been an admission fee
C) the lecture must have been at an inconvenient time.
D) at least some of the people who attended enjoyed a consumer surplus.
Explanation
A person will only buy or consume a good...
Microeconomics 9th Edition by Stephen Slavin
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