Question

The table below gives the quantity purchased by an individual at various prices. Price Qd What is the consumer surplus for this individual if the market price is $4.50? A) 10 $10 $8 $6 $5 $4 $3 $2 B) $11 C) $11.50 D) S12 E) None of the above
0 0
Add a comment Improve this question Transcribed image text
Answer #1

Here the maximum willingness to pay for a customer is more than 4.5 for 4 consumers only, so only those people will buy .

The consumer surplus will be 10+8+6+5-4.5x4=29-18=11

So B will be the answer.

Add a comment
Know the answer?
Add Answer to:
The table below gives the quantity purchased by an individual at various prices. Price Qd What...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT