This topic contains a solution. Click here to go to the answer
« previous next »

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 12 times)

xroflmao

  • Hero Member
  • *****
  • Posts: 515
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.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

ecox1012

  • Sr. Member
  • ****
  • Posts: 344
Reply #1 on: Jun 30, 2018
Answer to Question 1

c

Answer to Question 2

d


xroflmao

  • Member
  • Posts: 515
Reply 2 on: Jun 30, 2018
Gracias!

bbburns21

  • Member
  • Posts: 336
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

The most common childhood diseases include croup, chickenpox, ear infections, flu, pneumonia, ringworm, respiratory syncytial virus, scabies, head lice, and asthma.

Did you know?

The Romans did not use numerals to indicate fractions but instead used words to indicate parts of a whole.

Did you know?

Nearly all drugs pass into human breast milk. How often a drug is taken influences the amount of drug that will pass into the milk. Medications taken 30 to 60 minutes before breastfeeding are likely to be at peak blood levels when the baby is nursing.

Did you know?

Oliver Wendell Holmes is credited with introducing the words "anesthesia" and "anesthetic" into the English language in 1846.

Did you know?

When blood is deoxygenated and flowing back to the heart through the veins, it is dark reddish-blue in color. Blood in the arteries that is oxygenated and flowing out to the body is bright red. Whereas arterial blood comes out in spurts, venous blood flows.

The medical assisting profession offers many settings in which to pursue your career. Good communica The medical assisting profession offers many settings in which to pursue your career. Good communica
Yinka Shonibare MBE, Nelson's Ship in a Bottle, Fourth Plinth, Trafalgar Square, London. Yinka Shonibare MBE, Nelson's Ship in a Bottle, Fourth Plinth, Trafalgar Square, London.
To help make good electrical contact with the terminals without doing any harm, select the ... To help make good electrical contact with the terminals without doing any harm, select the ...
Determining a good table height. Stand facing the table with your hands at your sides. Adjust the ... Determining a good table height. Stand facing the table with your hands at your sides. Adjust the ...
Kneeling on one knee to keep good alignment when massaging the arms and hands. Kneeling on one knee to keep good alignment when massaging the arms and hands.
Politics, Power and the Common Good: An Introduction to Political Science, 5/E Politics, Power and the Common Good: An Introduction to Political Science, 5/E
Video: hGH (protein synthesis, growth and development)

For a complete list of videos, visit our video library