Business, 24.02.2020 18:28 YouKnowGucci
A student makes the following argument: "When a market is in equilibrium, there is no consumer surplusLOADING We know this because in equilibrium, the market price is equal to the price consumers are willing to pay for the good." Briefly explain whether you agree with the student's argument. A. The student is correct because the highest price consumers are willing to pay and the price consumers actually pay are equal. B. The student is incorrect because consumer surplus equals the price consumers are willing to pay for a good, which is a positive amount. C. The student is incorrect because the market price is greater than marginal cost. D. The student is incorrect because the price consumers are willing to pay and the market price are only equal for the last unit consumed. E. The student is correct because the highest price consumers are willing to pay and the lowest price firms are willing to accept are equal.
Answers: 3
Business, 22.06.2019 19:20
Advertisers are usually very conscious of their audience. choose an issue of a popular magazine such as time, sports illustrated, vanity fair, rolling stone, or the like. from that issue select three advertisements to analyze. try to determine the audience being appealed to in each advertisement and analyze the appeals used to persuade buyers. how might the appeals differ is the ads were designed to persuade a different audience.
Answers: 2
Business, 22.06.2019 20:00
What part of the rational model of decision-making does the former business executive βelliottβ have a problem completing?
Answers: 2
A student makes the following argument: "When a market is in equilibrium, there is no consumer surpl...
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