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Author Question: Mary purchased a stuffed animal toy for 5. After a few weeks, someone offered her 100 for the toy. ... (Read 32 times)

Alainaaa8

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on: Jul 1, 2018
Mary purchased a stuffed animal toy for 5. After a few weeks, someone offered her 100 for the toy. Mary refused. One can conclude that Mary's consumer surplus from the toy is
 
  A) less than 5.
  B) at least 95.
  C) at least 100.
  D) 105.

Question 2

You enter a store and buy a bottle of soda. Do you usually receive consumer surplus?
 
  A) Yes, because you wouldn't buy the soda if your willingness to pay would be less than the price.
  B) Yes, because you are thirsty.
  C) No, because you value other drinks more.
  D) No, because you have less money after the transaction.
Microeconomics ¦ Perloff ¦ 8th Edition
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dreamfighter72

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Reply #1 on: Jul 1, 2018
Answer to Question 1

B

Answer to Question 2

A


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