In a market, the marginal buyer is the buyer
A: whose willingness to pay is higher than that of all other buyers and potential buyers.
B: whose willingness to pay is lower than that of all other buyers and potential buyers.
C: who is willing to buy exactly one unit of the good.
D: who would be the first to leave the market if the price were any higher.
A: whose willingness to pay is higher than that of all other buyers and potential buyers.
B: whose willingness to pay is lower than that of all other buyers and potential buyers.
C: who is willing to buy exactly one unit of the good.
D: who would be the first to leave the market if the price were any higher.
举一反三
- In ___________, there is more supply than demand, buyers are at an advantage and prices are low. A: buyer's market B: seller's market C: bull market D: bear market
- Producer surplus measures A: the benefits to sellers of participating in a market. B: the costs to sellers of participating in a market. C: the price that buyers are willing to pay for sellers' output of a good or service. D: the benefit to sellers of producing a greater quantity of a good or service than buyers demand.
- Which of the following is a characteristic of perfect competition? A: . A single seller. B: . A small number of buyers. C: . Buyers and sellers are price setters. D: . Buyers and sellers are price takers.
- 18) According to the circular flow model A: . in the market for goods and services, households are buyers and firms are sellers. B: . the market for goods and services, households are sellers and firms are buyers. C: . in the market for factors of production, households are buyers and firms are sellers. D: . firms are the owners of the factors of production.
- When the price of a good is lower than the equilibrium price, ________. A: a surplus will exist. B: buyers desire to purchase more than is produced. C: sellers desire to produce and sell more than buyers wish to purchase. D: quantity supplied exceeds quantity demanded.