Suppose you're looking for a new living room sofa and discover that the local store is running a Presidents' Day sale. You are delighted because if you end up buying the sofa, the sale will

a. increase the marginal utility you derive from that sofa
b. increase your consumer surplus
c. reduce your consumer surplus
d. decrease the marginal utility you derive from that sofa
e. increase the total utility you derive from that sofa

B

Economics

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As new firms enter a monopolistically competitive industry, the demand for a typical firm's product will most likely:

a. increase and become less elastic. b. decrease and become more elastic. c. increase and become more elastic. d. decrease and become less elastic. e. remain unaffected.

Economics

Which of the following statements about the FDIC is untrue? a. The FDIC helps prevent bank failures. b. The FDIC was created after the surge in bank failures in the 1980s. c. The FDIC is a government agency. d. The FDIC will reimburse depositors for their losses up to $100,000 per demand deposit account

e. The FDIC conducts bank audits and examinations.

Economics