The additional benefit to a consumer from consuming one more unit of a good or service
A) is equal to economic surplus.
B) is equal to marginal benefit.
C) is equal to the opportunity cost of consuming the good or service.
D) is equal to consumer surplus.
B
Economics
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Suppose the game is infinitely repeated. What strategies will each firm utilize?
a. Firm A will charge a lower price and firm B will charge a lower price b. Firm A will charge a higher price and firm B will charge a lower price c. Firm A will charge a lower price and firm B will charge a higher price d. Firm A will charge a higher price and firm B will charge a higher price
Economics
An increase in labor supply increases the equilibrium wage rate and decreases the number of workers hired
a. True b. False Indicate whether the statement is true or false
Economics