Shelby said to her friend, "I just bought a new pair of climbing shoes and I love them so much that I totally would have paid more for them." Shelby was describing the concept of
A) consumer surplus.
B) producer surplus.
C) equilibrium.
D) marginal cost.
E) total surplus.
A
Economics
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If the price of a good changes but everything else influencing suppliers' planned sales remains constant, there is a
A) new supply curve that is to the right of the initial supply curve. B) new supply curve that is to the left of the initial supply curve. C) movement along the supply curve. D) rotation of the initial supply curve around the initial price.
Economics
A person who has lost his or her job because it is now performed by a robot is structurally unemployed
a. True b. False Indicate whether the statement is true or false
Economics