Consumers Surplus can also be defined as:

A. Extra price benefits

B. Shortage of quantity

C. Surplus of quantity

D. Difference between actual price and potential price

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  1. Perfect competition implies:
  2. In the case of two factor inputs which are neither perfectly complementary nor perfect substitutes,…
  3. The long run total cost is attained by:
  4. When the consumer is in equilibrium not only his income is fully spent, but the ratio of marginal utility…
  5. An indifference curve normally slopes downward from:
  6. In the theory of firm, Chamberline presented the idea of:
  7. The advertisement and other selling activities:
  8. Which of the following is an implicit cost of production?
  9. Capital Saving Technological Progress can be defined as:
  10. We can write ordinal utility function as:
  11. The point where the supply and demand curves intersect on a graph determines:
  12. If two goods are perfect substitutes then IC will be:
  13. If the demand curve is inelastic then:
  14. When AC curve falls, MC curve falls:
  15. The short-run supply curve of the perfectly competitive firm is given by:
  16. The economic problem of determining the combination of inputs yielding lowest cost for producing a given…
  17. Robbins definition of economics was criticised by:
  18. In Edgeworth model, price remains:
  19. In economic term water is a:
  20. To get more revenue, a Finance Minister impose tax on that commodity which has:
  21. The greater the percentage of income spent on a commodity:
  22. In cournot model, firms face:
  23. If the commodity is inferior then:
  24. Kinked Demand Curve is consistent with which one of the following market situations?
  25. The main contribution of Prof. Lord Keynes is in the field of:
  26. When a consumer is in equilibrium then slope of indifference curve is:
  27. If a firm produces zero output in the short period then which statement is true?
  28. In Revealed Preference Theory, Samuelson proves P.E = S.E + I.E :
  29. Market demand curve is:
  30. The modern cost curves are based upon the idea of: