The above figure illustrates the marginal social benefit and marginal social cost for chicken sandwiches. If the quantity is decreased from 6 to 3 and the price increases from $3 to $4, consumer surplus will decrease by

Rational ignorance about the efficient quantity of a public good can result in

A) the principle of minimum differentiation. B) excludable goods. C) bureaucratic overprovision of a good. D) the vertical summation of individual's marginal benefit curves.

A rise in the nominal exchange rate ($/€) represents a depreciation of the dollar relative to the euro, but a rise in the real exchange rate ($/€) represent an appreciation of the dollar. Explain why this is true

What will be an ideal response?