1. The consumer surplus in a market equals    a- the value the consumers' receive minus the amount they pay b- the amount the consumers pay minus the value they receive c- the value the consumers receive  d- the value the consumers' receive minus the producers' opportunity cost

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A: The utility function refers to all those commodity bundles that derive the same amount of utility…

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A: Since you have posted multiple questions, we will provide the solution to only the first question as…

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A: PPF : x2 + y2 =  2Utility function : U=  xi y = xy /100Where , x = Private Good , y = Public Good

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A: The production possibility frontier (PPF), also known as the production possibility curve, is a…

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A: Long-run interest rates represent the inflation-adjusted nominal interest rates observed over an…