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.
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The elasticity of demand for a firm's product is 2. If the firm reduces its price by 20 percent...
The cost incurred by using both fixed and variable factors in production is called ...