The excess benefit derived from the purchase of goods ove...
The excess benefit derived from the purchase of goods over the amount paid for them is referred to as consumer
Rationality
Surplus
Sovereignty
Credit
Correct answer is B
Surplus in economics refers to the difference between price consumers pay and what they would be willing to pay.
If AC = Average Cost of production, TC = Total Cost of production VC = Variable Cost of produc...
Another term for equilibrium price is? ...
In a mixed economy, decisions to produce are taken by ...
Agriculture is important to the economy of West African countries because it is the source of ...
Which of the following is NOT a major role of OPEC in production, and marketing of petroleum? ...
The main disadvantages of deflationary policies is ...
One profitable form of business undertaken by the commercial banks is ...