Introduction to Microeconomics. Topic 4: Consumer and Producer Surplus
English
Intermediate
The topic of the questions in this test are based on standard introductory level microeconomics textbook. For my class I am using Krugman & Wells’ Economics textbook. This test is based on theory provided in Topic 4: Consumer and Producer Surplus. There are 30 questions in this test. You have maximum of 5 minutes to answer each question. Good luck! Note: Some abbreviations used in this test: MB=marginal benefit, MC=marginal cost, CS=consumer surplus, PS=producer surplus, TS=total surplus, DWL=deadweight loss.
Description
Economics, Microeconomics, Introductory Microeconomics, Consumer Surplus, Producer Surplus, Total Surplus, Welfare, Deadweight Loss, Marginal Benefit, Marginal Cost, Willingness to Pay
Tags
30
Questions
5 min
Per question
4:36
Average time
3.8
Contest Score
6
Participants
2. Basic Explanations. Explanations give some additional context.
1.Educational explanations. 👍 Explanations cover why the correct answers are correct and why the wrong answers are wrong (when appropriate). E.g.: #q1, #q2, #3 etc.
2.Well-used and self-made media. 👍 E.g.: #q10, #q8, #q7