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Author Question: If Sam is willing to pay 50 for one good X, 30 for a second, 20 for a third, 8 for a fourth, and the ... (Read 13 times)

xroflmao

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on: Jun 30, 2018
If Sam is willing to pay 50 for one good X, 30 for a second, 20 for a third, 8 for a fourth, and the market price is 10, then Sam's consumer surplus is:
 a. 10 b. 40.
  c. 70 d. 100.

Question 2

Suppose a consumer is willing to pay 20 for one good X, 10 for a second, and 5 for a third, and the market price is 4 . The consumer surplus is:
 a. 16 b. 6.
  c. 1 d. 23.


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ecox1012

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Reply #1 on: Jun 30, 2018
Answer to Question 1

c

Answer to Question 2

d


xroflmao

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Reply 2 on: Jun 30, 2018
Thanks for the timely response, appreciate it

covalentbond

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Reply 3 on: Yesterday
Gracias!

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