At prices above a consumers' reservation price:
A) the opportunity cost is greater than the benefit from having the good.
B) the opportunity cost is less than the benefit from having the good.
C) the buyer will purchase the good.
D) None of these is true.
Correct Answer:
Verified
Q2: Surplus is:
A)the difference between the price at
Q3: If Claire's reservation price on a sweater
Q4: Each seller's opportunity costs are:
A)determined monetarily,which is
Q5: A buyer always wants to:
A)buy for a
Q7: A consumer's willingness to pay:
A)is the maximum
Q7: In economics,the concept of surplus:
A) measures the
Q8: The maximum price that a buyer would
Q9: A seller's willingness to sell:
A)is the maximum
Q10: The willingness to pay of buyers in
Q11: Surplus is:
A)a way of measuring who benefits
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