--%>

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 : Oligopoly and the law An illegal

    An illegal practice from an oligopolistic firm would be: (w) price leadership. (x) direct price collusion with rivals. (y) non-price competition. (z) mutual interdependence in price and output decisions. I need a g

  • Q : Can GNP be more than GDP Can GNP be

    Can GNP be more than GDP? Answer: Yes, GNP can be greater or more than GDP if NFIA is positive.

  • Q : Law of Supply Law of Supply : Supply

    Law of Supply: Supply means the goods provided for sale at a price throughout a particular period of time. This is the capacity and intention of the producers to gen

  • Q : What makes goods or resources valuable

    Can someone help me in finding out the precise answer from the given options. Modifying the goods or resources in manners that make them more valuable is: (1) Production. (2) Profitability. (3) Consumption. (4) Distribution.

  • Q : Uncertainty and Decision-making I have

    I have a problem in economics on Uncertainty and Decision-making. Please help me in the following question. The error of omission would be: (i) The failure of an individual to invest in Microsoft 20 years ago. (ii) Individual cheating on a test. (iii)

  • Q : Margin requirements for deflationary gap

    Elucidate the role of margin requirements for correcting deflationary gap.

  • Q : Causes of decrease in demand Illustrate

    Illustrate any three causes of decrease in demand? Answer: 1) Reduce in income of consumer. 2) Fall in the price of alternate good.3) Increase in the price of complementary goods.

  • Q : Present value of winnings by free

    You win the Idaho state lottery as well as are entitled to two tax-free payments of $500,000 every. You get the first payment today and the next payment in precisely one year. Suppose the interest rate is a generally high 25 percent.

  • Q : Price cross elasticity of demand among

    A 2 percent price cut for doodads causes gizmo sales to fall by 3 percent. The price cross elasticity of demand among these goods is approximately _____ and such goods are _____. (w)  2/3, substitutes. (x) 1.5, substitutes. (y) 2/3, complements.

  • Q : Problem on market boundaries The

    The market’s boundaries are stated by: (i) Legislation. (ii) The number of sellers and buyers in the market. (iii) The ease of trading among sellers and buyers. (iv) Geographical borders. Choose the right ans