If the price of oak lumber increases, what happens to consumer surplus in the market for oak cabinets?
举一反三
- If the price of oak lumber increases, what happens to consumer<br/>surplus in the market for oak cabinets? () A: Consumer<br/>surplus increases. B: Consumer<br/>surplus decreases. C: Consumer<br/>surplus will not change consumer surplus; only producer surplus<br/>changes. D: Consumer<br/>surplus depends on what event led to the increase in the price of oak<br/>lumber.
- New oak tables are normal goods. What would happen to the equilibrium price and quantity in the market for oak tables if the price of maple tables rises, the price of oak wood rises, more buyers enter the market for oak tables, and the price of wood saws increased?
- What is the total surplus of a market? A: the sum of consumer surplus and producer deficit B: the sum of consumer surplus and producer surplus C: the difference between the consumer surplus and producer surplus D: the difference between the highest price that a consumer is willing to pay and the lowest price that a producer is willing to sell
- 【单选题】If the price decreases in a country, what will happen? ( ) A. consumer surplus declines B. consumer surplus rises C. producer surplus declines D. both B and C A. consumer s
- Suppose that a consumer is consuming 10 units of a discrete good and the price increases from $5 per unit to $6. However, after the price change the consumer continues to consume 10 units of the discrete good. What isthe loss in the consumer’s surplus from this price change? A: $ 0 B: $ 4 C: $ 5 D: $ 10