-The Above Figure Shows Dana's Marginal Benefit Curve for Ice

question 129

Multiple Choice

-The above figure shows Dana's marginal benefit curve for ice cream. If the price of ice cream is $2 per gallon and Dana is allowed to buy only 8 gallons of ice cream, then her consumer surplus on the 8th gallon is

• A) $1.
• B) $2.
• C) $3.
• D) $8.

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Definitions:

Worker

An individual who performs tasks or labors for payment, contributing their skills and efforts to an organization or economy.

Soviet Version

Refers to the socialist economic model employed by the Soviet Union, characterized by state ownership and central planning.

Government Planning Committee

A body within the government responsible for setting goals, designing strategies, and overseeing the implementation of policies and plans.

Capital

Economic resources that are used by firms to produce goods or services, including buildings, machinery, and equipment.