Solved

Table 7-3 The Only Four Consumers in a Market Have the Following

Question 129

Multiple Choice

Table 7-3
The only four consumers in a market have the following willingness to pay for a good: Table 7-3 The only four consumers in a market have the following willingness to pay for a good:   -Refer to Table 7-3. If the price is $20, then consumer surplus in the market is A) $20, and Wilbur and Ming-la purchase the good. B) $45, and Carlos and Quilana purchase the good. C) $45, and Quilana, Wilbur, and Ming-la purchase the good. D) $55, and Carlos, Wilbur, and Ming-la purchase the good.
-Refer to Table 7-3. If the price is $20, then consumer surplus in the market is


A) $20, and Wilbur and Ming-la purchase the good.
B) $45, and Carlos and Quilana purchase the good.
C) $45, and Quilana, Wilbur, and Ming-la purchase the good.
D) $55, and Carlos, Wilbur, and Ming-la purchase the good.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions