Multiple Choice
Scenario 12-1
Ken places a $20 value on a cigar, and Mark places a $17 value on it. The equilibrium price for this brand of cigar is $15.
-Refer to Scenario 12-1. How much total consumer surplus do Ken and Mark get when each purchases one cigar?
A) $1
B) $2
C) $5
D) $7
Correct Answer:
Verified
Correct Answer:
Verified
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