A. minimum amount they are willing to pay for a good
B. producer surplus.
C. consumer surplus
D. maximum amount they are willing to pay for a good
E. none of these answers
Related Mcqs:
- Suppose there are three identical vases available to be purchased. Buyer 1 is willing to pay Rs30 for one, buyer 2 is willing to pay Rs25 for one, and buyer 3 is willing to pay Rs20 for one. If the price is Rs25, how many vases will be sold and what is the value of consumer surplus in this market ?
A. Three vases will be sold, and consumer surplus is Rs80
B. One vase will be sold, and consumer surplus is Rs5.
C. One vase will be sold, and consumer surplus is Rs30.
D. Three vases will be sold, and consumer surplus is Rs0.
E. Two vases will be sold, and consumer surplus is Rs5. - If a buyer’s willingness to pay for a new Honda is Rs20,000 and she is able to actually buy it for Rs18,000 her consumer surplus is ?
A. Rs18,000
B. Rs20,000
C. Rs2,000
D. Rs0. - The optimal level of provision of public goods is where society total willingness to pay per unit is equal to the ?
A. variable cost of producing the good
B. average cost of producing the good
C. marginal cost of producing the good
D. total cost of producing the good - Find out the term for the purpose that a buyer must pay for the goods at the time of its delivery ?
A. Barter
B. payment on Delivery
C. Gives in take
D. Cash on Delivery - What is called the price that a potential buyer is willing to pay for a security ?
A. Bid
B. Offer price
C. Quote price
D. None of these - _______ represents the difference between what consumer have to pay for a product and what they are willing and able to pay ?
A. producer surplus
B. deadweight surplus
C. government surplus
D. consumer surplus - The difference between what consumers have to pay for a particular and what they are willing to pay is known as ?
A. consumer surplus
B. producer surplus
C. deadweight costs
D. deadweight surplus - What is called degree of buyer’s responsiveness to price changes ?
A. Production & Supply
B. Demand push Supply
C. Demand & Supply
D. Demand pull supply - Coginitive dissonance occurs in which stage of the buyer decision process model ?
A. Need recognition
B. Information search
C. Evaluation of alternative
D. Postpurchase behaviour - In a competitive industry each buyer and seller ?
A. is a price taker
B. Producer different products
C. Believes that can influence price
D. Prevents the entry of competitors
