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Introduction to Economics 1
Introduction to Economics 1 Deneme Sınavı
Introduction to Economics 1 Deneme Sınavı Sorusu #1275791
Introduction to Economics 1 Deneme Sınavı Sorusu #1275791
The difference between the maximum amount a person is willing to pay for a good and the market price is called:
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Income elasticity of demand. |
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Price ceiling. |
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Dead-weight loss. |
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Consumer surplus. |
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Tax incidence. |
Yanıt Açıklaması:
Consumer surplus (CS) is the amount a buyer is willing to pay minus the buyer actually pays, which is the market price. That is: CS=WTP–P. The consumer surplus that each buyer gets is different.
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