Multiple Choice
Suppose Kim is willing to pay $5 for her first ice cream sundae, $4 for a second ice cream sundae, and $2 for a third. If Kim is able to buy all three ice cream sundaes for $2 each, she has realized a consumer surplus of
A) $3.
B) $5.
C) $2.
D) $1.
E) $4.
Correct Answer:

Verified
Correct Answer:
Verified
Q79: Exhibit 5-9 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6906/.jpg" alt="Exhibit 5-9
Q80: Marginal utility is the<br>A)utility that an individual
Q81: The income effect of an increase in
Q82: Suppose a consumer can spend $1,000 on
Q83: Consumer surplus is zero when a consumer
Q85: Suppose music CDs and movie DVDs give
Q86: The reason individual demand slopes downward is
Q87: Exhibit 5-6 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6906/.jpg" alt="Exhibit 5-6
Q88: Different prices might be charged for the
Q89: An increase in income causes a consumer's