ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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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.
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Transcribed Image Text: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.
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