--%>

Consumer Surplus-Difference in amounts

Kiley pays $1.00 for the cold Pepsi on a hot afternoon, however would be willing to pay $5.00. The $4.00 difference in such amounts is her: (i) Consumer surplus. (ii) Income effect. (iii) Economic gain. (iv) Marginal utility. (v) Pleasure coefficient.

Can someone please help me in finding out the accurate answer from the above options.

   Related Questions in Microeconomics

  • Q : Low-income developing countries select

    select the right answer of the question. Which of the below nations are low-income developing countries (DVCs), according to the World Bank? 1) country A only  2) countries A, D, and E  3) countries A and E  4) countries A, B, D, and E

    Q : Why production possibility curve is

    Why production possibility curve is concave? Answer: This is due to increasing the marginal opportunity cost.

  • Q : Exit from a competitive industry Exit

    Exit from a competitive industry will carry on till economic: (w) losses are driven to zero. (x) profits precisely offset accounting losses. (y) profit exceeds accounting profit. (z) resources have minimum incomes.

  • Q : Pure competition in modern U.S. economy

    Within the modern U.S. economy, there pure competition is: (w) characteristic of all resource markets. (x) rare in product markets. (y) most common for public utilities. (z) strictly regulated throguh government. I

  • Q : Labor Unions-supply of workers The

    The methods unions use to raise the wages of their members do not comprise: (1) Rising the demand for the union labor. (2) Establishing higher salaries and allotting work to members. (3) Facilitating the management plans to raise productivity. (4) Raising the supply o

  • Q : Cross-elasticity of demand

    Cross-elasticity of demand: The receptiveness of demand to modifications in prices of associated goods is termed as cross-elasticity of demand (i.e., associated good

  • Q : Problem on Right-to-Work Laws In states

    In states that encompass ‘Right to Work’ laws, then collective bargaining agreements: (i) Can’t need all employees to join a union in a specified period after being hired. (ii) Generally state the number of employees a firm

  • Q : Principles of Macroeconomics Questions

    (a) Explain the relationship between full employment of resources and full production. (b) Look at the following production possibilities curve illustrating the possibilities in Sluggerville for producing bats and/or p

  • Q : Income distribution after taxes and

    When line 0C0' shows income distribution before taxes and transfers, in that case the line that shows income distribution after taxes and transfers would be: (1) line 0A0'. (2) line 0B0'. (3) line 0C0'. (4) line 0D0'. (5) line 0E0'.

    Q : Federal agricultural subsidies Federal

    Federal agricultural subsidies tend to be rapidly: (w) spent because most farmers lack sufficient budgeting skills. (x) capitalized in higher prices for farm land. (y) slashed while pressure mounts to cut the federal deficit. (z) absorbed from rising