If the price of oak lumber increases, what happens to consumer
surplus in the market for oak cabinets? ()
A: Consumer
surplus increases.
B: Consumer
surplus decreases.
C: Consumer
surplus will not change consumer surplus; only producer surplus
changes.
D: Consumer
surplus depends on what event led to the increase in the price of oak
lumber.
surplus in the market for oak cabinets? ()
A: Consumer
surplus increases.
B: Consumer
surplus decreases.
C: Consumer
surplus will not change consumer surplus; only producer surplus
changes.
D: Consumer
surplus depends on what event led to the increase in the price of oak
lumber.
举一反三
- If the price of oak lumber increases, what happens to consumer surplus in the market for oak cabinets?
- What is the total surplus of a market? A: the sum of consumer surplus and producer deficit B: the sum of consumer surplus and producer surplus C: the difference between the consumer surplus and producer surplus D: the difference between the highest price that a consumer is willing to pay and the lowest price that a producer is willing to sell
- 【单选题】If the price decreases in a country, what will happen? ( ) A. consumer surplus declines B. consumer surplus rises C. producer surplus declines D. both B and C A. consumer s
- Suppose that a consumer is consuming 10 units of a discrete good and the price increases from $5 per unit to $6. However, after the price change the consumer continues to consume 10 units of the discrete good. What isthe loss in the consumer’s surplus from this price change? A: $ 0 B: $ 4 C: $ 5 D: $ 10
- A tariff on a product ( ) A: enhances the economic well-being of the domestic economy. B: increases the domestic quantity supplied. C: increases the domestic quantity demanded. D: results in an increase in producer surplus that is greater than the<br/>resulting decrease in consumer surplus.