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
A: $ 0
B: $ 4
C: $ 5
D: $ 10
举一反三
- In the figure below, the decline in consumer surplus resulting from an increase in price from $5 to $10 is given by the area:07759405b34d3d8ddf2f10fde4c01fdc.png
- 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.
- Suppose the demand and supply curves for good X are both linear. And, the demand price for the first unit of X is $28, and the supply price for the first unit of X is $6. If the equilibrium price for good X is $16 and the equilibrium quantity of X is 24,000 units, then total consumer surplus is $________, total producer surplus is $_________, and total social surplus is $_____________. A: $144,000; $120,000; $264,000 B: $672,000; $144,000; $384,000 C: $120,000; $144,000; $264,000 D: $28; $6; $16 E: $144,000; $672,000; $384,000
- If the price of oak lumber increases, what happens to consumer surplus in the market for oak cabinets?
- 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