The Compensating Variation for an increase in the price of a good is
The Compensating Variation for an increase in the price of a good is
A) the minimum amount of money a consumer would accept to voluntarily accept the price increase.
B) the maximum amount of money a consumer would pay to avoid the price increase.
C) the change in consumer surplus resulting from a price increase.
D) the change in utility resulting from the increase in price.
ANSWER
A
Expert paper writers are just a few clicks away
Place an order in 3 easy steps. Takes less than 5 mins.