d. The price of a good rises as the costs of producing that good rise.
e. none of the above
171. Economists state that the __________ utility a person receives from a unit of a good, the __________ the price he or
she is willing to pay for it.
172. If the U.S. government imposes a more restrictive import quota on Japanese video gaming systems, the
____________ curve for Japanese video gaming systems in the U.S. will shift ___________.
173. If the price a buyer pays for a good is $50 and the maximum price she would be willing and able to pay is $53, then
____________ is _______________.
174. If consumers’ surplus is $30 and the price paid for the good is $50, then the maximum price a buyer is willing and
able to pay for the good is
e. There is not enough information to answer the question.
175. If the maximum price a person is willing and able to pay for a good is $50, and consumers’ surplus is $20, then it
follows that the price the buyer paid for the good is