Multiple Choice
Suppose that the price of a new bicycle is €300. Natalie values a new bicycle at €400. It costs €200 for the seller to produce the new bicycle. What is the value of total surplus if Natalie buys a new bike?
A) €500
B) €300
C) €200
D) €400
E) €100
Correct Answer:
Verified
Correct Answer:
Verified
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