Multiple Choice
Table 7-5
For each of three potential buyers of oranges, the table displays the willingness to pay for the first three oranges of the day. Assume Allison, Bob, and Charisse are the only three buyers of oranges, and only three oranges can be supplied per day.
-Refer to Table 7-5. Who experiences the largest gain in consumer surplus when the price of an orange decreases from $1.05 to $0.75?
A) Allison
B) Bob
C) Charisse
D) Allison and Bob experience the same gain in consumer surplus, and Charisse's gain is zero.
Correct Answer:

Verified
Correct Answer:
Verified
Q12: Figure 7-11 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB2297/.jpg" alt="Figure 7-11
Q50: Figure 7-3 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB2297/.jpg" alt="Figure 7-3
Q61: Producer surplus is the<br>A)area under the supply
Q62: A consumer's willingness to pay directly measures<br>A)the
Q73: Kristi sells purses.Her cost is $35 per
Q80: Figure 7-15 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB2297/.jpg" alt="Figure 7-15
Q95: Table 7-5<br>For each of three potential buyers
Q96: Table 7-10<br>The following table represents the costs
Q102: Total surplus in a market will increase
Q129: Total surplus in a market can be