Which of the following is NOT a characteristic or focus of microeconomics?
A) individual consumers.
B) analysis of aggregate economic variables
C) firm behavior
D) individual markets
B
Economics
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The amount of money one would have to take from a consumer to harm her by as much as the price increase is called
A) compensating variation. B) structured settlement. C) equivalent variation. D) consumer surplus.
Economics
Producer surplus directly measures
a. the well-being of society as a whole. b. the well-being of buyers and sellers. c. the well-being of sellers. d. sellers' willingness to sell.
Economics