Chad is willing to pay $4.00 to get his first cup of morning coffee. He buys a cup from a vendor selling coffee and gets $1.75 of consumer surplus. Chad paid ______ for the cup of coffee. 

When government imposes price ceilings and floors in markets,

Consider the following picture of a demand curve. How much does consumer surplus change by when the price rises from P1 to P2? 

A proton having a speed of 3.0 × 10^6 m/s in a direction perpendicular to a uniform magnetic field moves in a circle of radius 0.20 m within the field.  What is the magnitude of the magnetic field? (e = 1.60 × 10^-19 C, mproton = 1.67 × 10^-27 kg)

Suppose that supply is more elastic than demand. Which of the following can you conclude?

Consider the gasoline market. If the price of crude oil, an input in the production of gasoline, falls, what effect will this have on consumer surplus in the gasoline market? (Hint: Draw the demand and supply curves, identify CS and PS, shift the appropriate curve, and then see which answer is correct).

A tax on buyers would have the exact same impact on a market as if you placed the tax on sellers.

The only four consumers in a market have the following willingness to pay for a good: Buyer                          willingness to pay Carlos                               $25 Quilana                             $35 Wilbur                               $15 Ming-la                              $45 If the price is 30, then consumer surplus in the market is

The minimum wage is an example of

Willingness to pay is the minimum amount a buyer will pay for a good, and it measures how much the buyer values the good.