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If Thelma's Willingness to Sell Her Homemade Fudge Is $4,then

Question 16
Multiple Choice

If Thelma's willingness to sell her homemade fudge is $4,then at which of the following prices would Thelma sell her fudge? A) $2 B) $3.99 C) $4.01 D) Thelma would not sell her fudge at any of these prices.

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Q 17
If Sam's opportunity cost of a sweater is $37,which of the following prices would he have to observe in the market in order to sell a sweater? A) $37 B) $37.01 C) $50 D) Sam would sell a sweater at any of these prices.
Q 18
Surplus refers to: A) a way of measuring who benefits from transactions and by how much. B) the difference between the price the buyer would have paid and the actual price paid. C) the difference between the price the seller would have accepted and the actual sell price. D) All of these statements are true.
Q 19
Surplus refers to: A) the difference between the price at which a buyer or seller would be willing to trade and the actual price. B) the difference between the willingness to pay and the actual price paid. C) the difference between the willingness to sell and the actual price accepted. D) All of these are true.
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