When policymakers are considering a particular action, they can use consumer surplus as a(n)
a. objective measure of the benefits to buyers as determined by policymakers.
b. measure of the benefits to buyers as the buyers perceive them.
c. potentially flawed measure of the benefits to buyers if the buyers are not rational.
d. Both b) and c) are correct.
d
Economics
You might also like to view...
One of the reasons why firms pollute air and water is that
a. air and water are often not priced. b. managers desire to pollute. c. air and water have no value to society. d. managers are profit maximizers.
Economics
The amendment to the U.S. Constitution that granted the federal government the authority to collect income taxes was the
A. 8th. B. 26th. C. 16th. D. 28th.
Economics