Answer to Question #229997 in Microeconomics for Lindelwa

Question

Consumer surplus indicates that:

A. more will be demanded at lower than at higher prices.

B. it is impossible to increase consumer wellbeing by changing the way in which income is spent.

C. consumers often get more value from a good than is represented by the price.

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

E. market equilibrium can always be attained.

Answer 1

C. consumers often get more value from a good than is represented by the price.