A payment for the use of an input that exceeds the opportunity cost of the input is known as

To an economist, "value" is the same as

A) marginal cost. B) consumer surplus. C) the minimum price that people are willing to pay for another unit of the good. D) marginal benefit. E) total surplus.

A specific tax imposed on a monopolist may increase the price by more than the tax

Indicate whether the statement is true or false