Economic surplus measures the value of a decision's: total costs minus its net benefits. O total benefits minus its total costs. O total costs minus its benefits minus gains from exploitation O benefits minus its costs plus externalities.
Economic surplus measures the value of a decision's: total costs minus its net benefits. O total benefits minus its total costs. O total costs minus its benefits minus gains from exploitation O benefits minus its costs plus externalities.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
Is question 33 correct?

Transcribed Image Text:D
D
O irrationality
market power
Question 33
Economic surplus measures the value of a decision's:
total costs minus its net benefits.
total benefits minus its total costs.
O total costs minus its benefits minus gains from exploitation.
O benefits minus its costs plus externalities.
Question 34
When market power is a significant force in a product market, the market tends to
compared to a market
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