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The Following Table Shows the Benefit That Evan Derives from Consuming

question 146

Multiple Choice

The following table shows the benefit that Evan derives from consuming pizza. The price of a slice of pizza is $4.
The following table shows the benefit that Evan derives from consuming pizza. The price of a slice of pizza is $4.    -Refer to the table above.The optimal number of slices of pizza for Evan is ________,and he will get ________ in consumer surplus from it. A)  4; $15 B)  3; $12 C)  1; $8 D)  2; $10
-Refer to the table above.The optimal number of slices of pizza for Evan is ________,and he will get ________ in consumer surplus from it.


Definitions:

Phillips Curve

A curve showing possible combinations of the inflation rate and the unemployment rate.

Opportunity Cost

The cost of forgoing the next best alternative when making a decision or choosing to invest in one option over another.

Reducing Unemployment

The act of implementing policies or actions by governments or businesses to decrease the number of unemployed individuals in the economy.

Phillips Curve

An economic theory suggesting an inverse relationship between the rate of inflation and the rate of unemployment in an economy.

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