The following image shows the demand curve for neckties. If neckties were available free of cost, then _____.
Figure 6.3

A)total utility, consumer surplus, and consumer expenditure would be undefined
B)total utility and consumer surplus would be valued at $20, but consumer expenditure would be undefined
C)total utility, consumer surplus, and consumer expenditure would all be equal to zero
D)total utility, consumer surplus, and consumer expenditure would all be at its maximum
E)total utility and consumer surplus would be valued at $36; consumer expenditure would be zero

Question

The following image shows the demand curve for neckties. If neckties were available free of cost, then _____. ​
Figure 6.3
​​

A)total utility, consumer surplus, and consumer expenditure would be undefined 
B)total utility and consumer surplus would be valued at $20, but consumer expenditure would be undefined 
C)total utility, consumer surplus, and consumer expenditure would all be equal to zero 
D)total utility, consumer surplus, and consumer expenditure would all be at its maximum 
E)total utility and consumer surplus would be valued at $36; consumer expenditure would be zero

Quizplus · Accepted Answer

The Answer of The following image shows the demand curve for neckties. If neckties were available free of cost, then _____. ​
Figure 6.3
​​

A)total utility, consumer surplus, and consumer expenditure would be undefined 
B)total utility and consumer surplus would be valued at $20, but consumer expenditure would be undefined 
C)total utility, consumer surplus, and consumer expenditure would all be equal to zero 
D)total utility, consumer surplus, and consumer expenditure would all be at its maximum 
E)total utility and consumer surplus would be valued at $36; consumer expenditure would be zero

The Following Image Shows the Demand Curve for Neckties