Multiple Choice
Suppose the market price is $5. There are three consumers in the market. The consumer who purchases the first unit of output is willing to pay $12; the consumer purchasing the second unit of output is willing to pay $8; and the consumer buying the third unit of output is willing to pay $7. Total consumer surplus across these three consumers is:
A) $27.
B) $11.
C) $12.
D) $32.
Correct Answer:
Verified
Correct Answer:
Verified
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