Author Question: Refer to Figure 4-3. If the market price is 3.00, what is Kendra's consumer surplus? A) 6.50 B) ... (Read 81 times)

JMatthes · **on:** Jun 29, 2018

Refer to Figure 4-3. If the market price is 3.00, what is Kendra's consumer surplus?

A) 6.50 B) 5.50 C) 2.50 D) 0.50

Question 2

Suppose at a price of 50, Yoshi's Jazz Bar sells 20 tickets to its nightly jazz performance and at a price of 40, it sells 25 tickets. Based on this information, the demand for Yoshi's jazz performance is elastic.

Indicate whether the statement is true or false