Consider the Demand Curve for a Product Such as Movie

question 124

Multiple Choice

Consider the demand curve for a product such as movie tickets,which shows how many tickets consumers wish to purchase at each possible price.Alternatively,we could view this demand curve in the following way:

• A)for each quantity of movie tickets,the price on the demand curve shows the value that consumers place on that particular movie ticket.
• B)for each quantity of movie tickets,the demand curve shows the economic surplus generated by the purchase of the tickets.
• C)for each possible price,the demand curve shows the economic surplus generated by the purchase of the tickets.
• D)for each quantity of movie tickets,the demand curve shows the extent of market inefficiency and deadweight loss.
• E)for each quantity of movie tickets,the demand curve shows the additional cost to the producer of supplying that particular movie ticket.

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