Consumer surplus increases when the market price of a commodity declines

Indicate whether the statement is true or false

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Economics

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The figure above shows the production possibilities frontier for a country. How does the opportunity cost of compact cars forgone per SUV gained moving from point C to point B compare with the movement from point B to point A?

A) The opportunity cost of moving from point C to point B is greater than the movement from point B to point A. B) The opportunity cost of moving from point C to point B is less than the movement from point B to point A. C) The opportunity cost of moving from point C to point B is the same as the movement from point B to point A. D) The opportunity costs cannot be compared because the units of moving from point C to point B differ from the units of moving from point B to point A. E) More information is needed to determine how the two opportunity costs compare.

Economics

Indifference curves show all combinations of commodities that are equally desirable to the consumer

a. True b. False Indicate whether the statement is true or false

Economics