Suppose Your Own Demand Curve for Tomatoes Slopes Downward

question 93

Multiple Choice

Suppose your own demand curve for tomatoes slopes downward.Suppose also that,for the last tomato you bought this week,you paid a price exactly equal to your willingness to pay.Then

• A)you should buy more tomatoes before the end of the week.
• B)you already have bought too many tomatoes this week.
• C)your consumer surplus on the last tomato you bought is zero.
• D)your consumer surplus on all of the tomatoes you have bought this week is zero.

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Definitions:

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Pertains to the period approximately between 1730 and 1769, marked by significant developments in politics, culture, and economic structures worldwide.

Glorious Revolution

The peaceful overthrow of King James II of England in 1688, leading to the reign of William and Mary, and the establishment of constitutional monarchy.

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Individuals or groups that settle in a new country or area, often establishing colonies under the control of a mother country.

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A right or privilege that one is entitled to at birth, often pertaining to citizenship or familial inheritance.