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.

View Complete Question

Related Questions in Microeconomics

Q : Profits predict by structure conduct

When cost structures and market demands were identical for each of the given types of firms, in that case the structure-conduct-performance paradigm would predict the greatest profits for: (1) pure monopolist. (2) price-discriminating monopolist. (3)

Q : Illustration of kinked demand curve

Sarah, Courtney, Carly and Lisa sell shell necklaces. As Lisa lowers her price, Carly, Sarah as well as Courtney lower their price. If Lisa raises her price, Carly, Courtney and Sarah remain their price similar. This interaction is an

Q : Can the value of APS be negative Can

Can the value of APS be negative:Yes, the value of APS is negative; when there are dissavings.

Q : Explain facing horizontal line by

When the demand curve facing a firm is a horizontal line, then there demand is perfectly: (w) elastic at each quantity. (x) inelastic where quantity demanded is zero. (y) insensitive to the price of good. (z) unresponsive to changes within the prices

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 : Standard categories of economic

Standard categories of economic discrimination which tend to make income less equally distributed do not comprise: (1) wage discrimination (2) employment discrimination (3) occupational discrimination (4) human capital discrimination (5) income discri

Q : Define regressive in taxes as

Line T2 depicts as in below graph a tax system which is: (i) progressive. (ii) recessive. (iii) proportional. (iv) biased. (v) regressive.

Q : Error of commission in uncertainty Can

Can someone help me in finding out the most precise answer from the given options. The error of commission would be: (1) Student forgets to study for the test. (2) The decision not to make a product which another company later generates successfully. (3) The company s

Q : Rate of return on financial assets The

The rate of return on financial assets tends to be negatively associated to: (w) probability of default. (x) liquidity. (y) risk. (z) time to maturity. Please guys help to solve this problem of Economics

Q : Short run supply of an industry The

The cranberry industry’s short-run supply is demonstrated as: (i) curve A. (ii) curve B. (iii) curve E. (iv) curve F. (v) curve G.

Discover Q & A

Leading Solution Library

Avail More Than 1437002 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1939301
Asked

3,689

Active Tutors

1437002

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment