The Equivalent Variation for an increase in the price of a good is
A) the reduction in a consumer's income necessary to harm the consumer by as much as the price increase.
B) the increase in a consumer's income necessary to eliminate the consumer's harm from a price increase.
C) the change in consumer surplus resulting from a price increase.
D) the amount of money a consumer would accept to be subject to a price increase.
A
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Indicate whether the statement is true or false
If Individual A and Individual B face a prisoner's dilemma, the ideal strategy is for: a. Individual A to confess and Individual B to not confess. b. Individual B to confess and Individual A to not confess. c. both individuals to confess
d. both individuals to not confess.