If a consumer places a value of $12 on a particular good and if the price of the good is $15, then the Select one: a.consumer does not purchase the good. b.market is not a competitive market. c.price of the good will fall due to market forces. d.consumer has consumer surplus of $2 if he or she buys the good.

If a consumer places a value of $12 on a particular good and if the price of the good is $15, then the Select one: a.consumer does not purchase the good. b.market is not a competitive market. c.price of the good will fall due to market forces. d.consumer has consumer surplus of $2 if he or she buys the good.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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