Two economists from Northwestern University estimated the benefit households received from subscribing to broadband Internet service. The economists found that
A) the average consumer of broadband Internet service received a marginal benefit equal to $36.
B) one month's benefit to consumers who subscribe to broadband Internet service is about $890 million.
C) most consumers of broadband Internet service were not willing to pay more than $36 per month.
D) the consumer surplus from dial-up Internet service exceeded the consumer surplus from broadband Internet service.
B
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The production-based method of national accounting sums up:
A) the total revenue earned by all the firms in the economy. B) the value that is added by each domestic firm in the production process. C) the income earned by each factor of production for participating in the production process. D) the expenditure incurred by domestic and foreign economic agents on domestic products. Infi Cor
(Consider This) An unprofitable motel will stay open in the short run if:
A. price (average nightly room rate) exceeds average variable cost. B. marginal revenue exceeds marginal cost. C. price (average nightly room rate) exceeds average fixed cost. D. marginal revenue exceeds price.