[Answered] 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 ...

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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 40 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.

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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!

miss_1456@hotmail.com

Member
Posts: 289

Reply 3 on: Yesterday

Excellent

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