Arthur buys a new cell phone for $150. He receives consumer surplus of $150 from the purchase. What value does Arthur place on his cell phone?

In the U.S. market economy, the government performs the following prominent roles, except:

A. Provide public goods and services B. Promote economic stability and growth C. Set prices for most resources D. Modifies the distribution of income

The "ceteris paribus" clause in the law of demand allows which of the following factors to change?

A. consumer tastes and preferences B. prices of other goods C. expectations D. price of the good demanded