The difference between the ________ for a good and the ________ is called consumer surplus
A) lowest price a consumer is willing to pay; price the consumer actually pays
B) highest price a consumer is willing to pay; price the consumer actually pays
C) highest price a consumer is willing to pay; lowest price a consumer is willing to pay
D) price the consumer actually pays; actual cost to the producer
B
Economics
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Gross domestic product (GDP) is a satisfactory measure of both economic "goods" and "bads"
a. True b. False Indicate whether the statement is true or false
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Patent and copyright laws are major sources of
a. natural monopolies. b. government-created monopolies. c. resource monopolies. d. antitrust regulation.
Economics