Economists call the difference between what you pay for a good and what you would have been willing to pay for it a(n)
a. budget deficit
b. consumer deficit
c. consumer marginal benefit
d. consumer surplus
e. economic benefit
D
Economics
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The schedules in the table give the marginal social benefit and marginal social cost of a DVD. At the efficient quantity, the minimum supply-price of a DVD is ________ and the value of a DVD is ________
A) $16; $24 B) $16; $20 C) $20; $16 D) $20; $20
Economics
The Fed can engage in preemptive strikes against a rise in inflation by ________ the federal funds interest rate; it can act preemptively against negative demand shocks by ________ the federal funds interest rate
A) raising; lowering B) raising; raising C) lowering; lowering D) lowering; raising
Economics