: Troy likes attending Major League Baseball games and going to concerts. Following a 10% increase in the price of tickets to Major League Baseball (MLB) games, Troy’s attendance at these games fell by 10%. View
: Consumer surplus can be depicted as the vertical distance between indifference curves, provided: View
: A consumer currently purchases a good at a price such that her net benefit is positive. Her preference then changes and she now values the good more than before. If the market price remains unchanged, which of the following statements about her consumer surplus would be true? View
: Suppose the government provides $1,400 worth of educational services for all children. Assume that public schooling cannot be supplemented with private tutoring. What would be the cost of schooling for a family that desires educational services worth $1,700? View
