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.
What accounts for the ‘U-shaped’ of the short run average cost (AC) curve? ...
To overcome the problem of double counting under the expenditure approach ...
The following are reward for factors of production EXCEPT ...
Which of these is not a cause of high population growth in Nigeria? ...
Monetary control measure are coordinated by ...
A consumer maximizes his utility in consuming a good 'X' when ...
The main advantage of large scale production is that ...
As long as marginal utility is positive, total utility must be ...