Answer to Question #205830 in Microeconomics for Sithembile Magi

Question #205830

Consumer surplus indicates that... (4 marks) 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.


1
Expert's answer
2021-06-13T17:44:58-0400

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


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