If the Demand Price for the 2,000^th Unit of a Good

question 25

Multiple Choice

If the demand price for the 2,000^th unit of a good is $10,then

• A)total consumer surplus for 2,000 units is $10,000.
• B)the economic value of the 2,000^th unit is $10.
• C)consumer surplus for the 2,000^th unit can be computed by subtracting the supply price for the 2,000^th unit.
• D)the net gain to society from the production and consumption of the 2,000^th unit can be computed by subtracting the supply price from $10.
• E)Both b and d

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Definitions:

Microsoft

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Antitrust Laws

Laws designed to promote fair competition for the benefit of consumers, by regulating anti-competitive practices and promoting market fairness.

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Legal agreements that settle disputes between parties without admission of guilt, often used by regulatory agencies to enforce compliance.

Sherman Act

A foundational antitrust law in the United States that prohibits monopolistic practices and promotes competition.