(Figure: Good X) From the figure, the maximum price that consumers are willing to pay for _____ units of Good X is _____ per unit.

Fill in the blank(s) with the appropriate word(s).

Ans: 36; $4

Economics

You might also like to view...

A government subsidy

A) is a policy that can be used to help eliminate the deadweight loss from an external cost. B) can help achieve an efficient amount of output when the good has an external benefit. C) increases consumers' marginal benefit from the good. D) Both answers A and C are correct. E) Both answers B and C are correct.

Economics

A cartel most likely forms in

A) an oligopolistic market. B) a perfectly competitive market. C) a monopolistically competitive market. D) a heavily regulated industry.

Economics