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A. will decrease<br />
B. will increase<br />
C. will remain constant<br />
D. may increase or decrease depending on the amount of the price<br />
increase<br />
Question 13 of<br />
5.0/ 5.0 Points<br />
20<br />
The difference between the maximum amount a person is willing to pay for a good and its<br />
current market price is known as __________ .<br />
A. the paradox of<br />
value<br />
B. profits<br />
C. revealed preferences<br />
D. consumer surplus<br />
Question 14 of<br />
0.0/ 5.0 Points<br />
20<br />
At the market equilibrium, resources are allocated efficiently because __________ .<br />
A. the marginal cost of producing another unit is equal to zero<br />
B. the price buyers pay accurately reflects the marginal cost of the resources used to produce the<br />
good<br />
C. the price buyers pay is greater than sellers' willingness to sell<br />
D. all of the above<br />
Question 15 of
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