Jake just bought a new hockey stick. When he was leaving the shop, he thought that he such a great deal and would have paid $50 more dollars for the stick. Jake received A) producer surplus. B) consumer surplus. C) marginal cost. D) total surplus.

Jake just bought a new hockey stick. When he was leaving the shop, he thought that he such a great deal and would have paid $50 more dollars for the stick. Jake received A) producer surplus. B) consumer surplus. C) marginal cost. D) total surplus.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter8: Perfect Competition

Section: Chapter Questions

Problem 6SCQ: A firms marginal cost curve above the average variable cost curve is equal to the films individual...

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Jake just bought a new hockey stick. When he was leaving the shop, he thought that
he such a great deal and would have paid $50 more dollars for the stick. Jake
received
A) producer surplus.
B) consumer surplus.
C) marginal cost.
D) total surplus.

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