You enter a store and buy a bottle of soda. Do you usually receive consumer surplus?
A) Yes, because you wouldn't buy the soda if your willingness to pay would be less than the price.
B) Yes, because you are thirsty.
C) No, because you value other drinks more.
D) No, because you have less money after the transaction.
A
Economics
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The supply curve of labor to a monopsonist is
A) upward sloping. B) downward sloping because of the law of diminishing marginal returns. C) downward sloping, but not because of the law of diminishing marginal returns. D) horizontal.
Economics
How can supply and demand analysis be used to explain the equilibrium price and quantity of exports and imports for aluminum when there is trade between two nations (e.g., the United States and Canada)?
What will be an ideal response?
Economics