If the aggregate income of an island country is $8 million and income per capita is $5,000, the total population of the island is ________

A) 1,600 B) 106,000 C) 40,000 D) 20,000

A

Economics

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Alice is willing to pay $3 for the second slice of pizza she eats. The price she pays is $2. Alice's consumer surplus for this slice of pizza equals

A) $0. B) $1. C) $2. D) $3.

Economics

"Unlike a monopoly, consumer surplus in a perfectly competitive market is zero." Do you agree or disagree? Why?

What will be an ideal response?

Economics