Answer to Question #205845 in Macroeconomics for Nola

Question

Consumer surplus indicates that... 

a) more will be demanded at lower prices than at a higher prices.

b) it is impossible to increase consumer well-being by changing the way in which income is spent.

c) consumers often get more value from a good than is represented by the price they pay for that good.

d) the allocation of resources is decided by the interaction of buyers and sellers. 

Answer 1

c) consumers often get more value from a good than is represented by the price they pay for that good.