--%>
Assignment Help - homework help

Problem on greatest consumer surplus

Which of the following below goods produces the greatest consumer surplus? (1) Free downloading to pirate your favorite songs. (2) Diamonds. (3) Water. (4) College textbooks. (5) Slices of the pizza.

Choose the right answer from the above options.

   Related Questions in Microeconomics

  • Q : Question on utility function Assume a

     Assume a consumer with the given utility function: U = 3y1y2 + 5. Suppose y2 = 1, derive the marginal utility schedule for y1. In what direction is it moving?

    		•
  • Q : Characteristic of a purely competitive

    A purely competitive firm: (w) faces a perfectly inelastic demand curve. (x) sets its own price. (y) is a price taker. (z) sells a differentiated product. Can someone explain/help me with best solution about proble

    		•
  • Q : Price elasticity of demand coefficient

    A price elasticity of demand coefficient of infinity implies that: (w) the demand curve is horizontal. (x) each 1 percent price hike elicits a 1 percent increase in revenue. (y) total revenue increases proportionally as a firm increases its price. (z)

    		•
  • Q : Least commonly finance investment in

    Business firms least commonly finance investment within new economic capital by: (w) retained earnings. (x) the issuance of common or preferred stocks. (y) borrowing from banks or other financial institutions. (z) gra

    		•
  • Q : Define autonomous investment Autonomous

    Autonomous investment: Investment that is made up without depending on the gain of the enterprise.

    		•
  • Q : Total revenue raised by output

    A firm’s total revenue can definitely be raised by decreasing its output when: (1) its supply curve is perfectly price inelastic. (2) the demand curve for its output is relatively income inelastic. (3) this is currently losing money each period.

    		•
  • Q : Monopsonist in the labor market I have

    I have a problem in economics on Monopsonist in the labor market. Please help me in the following question. The monopsonist in labor market faces the: (1) Market demand for the labor. (2) Household’s demand for the labor. (3) Household’s s

    		•
  • Q : Tax cutting affect the economy How does

    How does tax cuts affect the economy?

    		•
  • Q : Labor Supply Curves to the Competitive

    The price taker in labor market: (1) Can set the salary that it will pay for the labor it hires. (2) Can set the salary at which it supplies the use of its labor. (3) Doesn’t care what salary it pays or obtains. (4) Can’t influence the wage recognized by t

    		•
  • Q : Problem on I-Proprietorships The

    The business owned and operated by the lone individual is a/an: (i) Unit of labor. (ii) Entrepreneurship. (iii) Corporation. (iv) Sole proprietorship. Can someone please help me in finding out the accurate answer from the above opt

    		•