ECON MICRO
5th Edition
ISBN: 9781337000536
Author: William A. McEachern
Publisher: Cengage Learning
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Question
Chapter 6, Problem 3.10P
To determine
The way we can say that a rider has derived his
Consumer surplus:
It is the difference between the willingness to pay and what he actually pays for the good. It is the area below the demand curve and above the price level.
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Question 17
If a tax (paid by consumers) is levied on a good, this would
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cause a movement along the demand curve to a (lower price, higher quantity) point.
cause a movement along the demand curve to a (higher price, lower quantity) point.
move its demand curve to the right.
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