6)Which statement is true? -A $24 ticket to a Detroit Tigers baseball game provi

Question

6)Which statement is true?

-A $24 ticket to a Detroit Tigers baseball game provides the ticket-holder with more utility than a $75 ticket to see a Detroit Red Wings hockey game.

-A half-hour swimming lesson would provide twelve different people with exactly the same utility.

-The utility of a satellite dish is greater than the utility of a cell phone.

-No one would pay for a service that provided him with no utility.

Given the demand curve in this graph, if price were $2.00, how much is consumer surplus?

-$5.00

-$1.50

-$0

-$10.50

10)As people buy more of the same product,

-their consumer surplus falls.

-their consumer surplus rises.

-the additional purchases do not affect their consumer surplus.

-their consumer surplus will fall to zero to maximize their total utility.

course microeconomic

Explanation / Answer

Q6. Answer is No one would pay for a service that provided him wiith no utility. Q9. Answer is $ 1.50 Explanation: Consumer surplus: 1/2 * 3* (3-2) = $ 1.50 Q10. Answer is Their consumer surplus rises

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