Author Question: If Joel buys ten floppy disks, which are worth a total of 30 to him, and he pays 1 a disk, how much ... (Read 51 times)

nummyann · **on:** Jul 1, 2018

If Joel buys ten floppy disks, which are worth a total of 30 to him, and he pays 1 a disk, how much consumer surplus does he derive?
a. 24
b. 15
c. 20
d. 10
e. 2 from each floppy disk

Question 2

The consumers' surplus derived from the last unit of a good purchased
a. tends to be less than 0
b. tends to be equal to 0
c. tends to equal the price of the good
d. tends to be greater than the price of the good
e. depends on the marginal utility of the first unit purchased