When consumers pay less for something than it is worth to them, they receive a(n) ______. Question 1 options: a) external benefit b) deadweight loss c) producer surplus d) consumer surplus
When consumers pay less for something than it is worth to them, they receive a(n) ______.
Question 1 options:
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Question 2
At the
- marginal benefit equals marginal cost
- the sum of consumer surplus equals the sum of producer surplus
- the quantity demanded equals the quantity supplied
The minimum price that producers must receive to induce them to produce another unit of a good or service is equal to the good's ______.
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The
Question 4 options:
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Question 5
Use the following graph to answer the question: what is the total cost to suppliers of producing and selling the first 10 units of this good?
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