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If Johnny Is Willing to Pay Up to $3 for an Ice-Cream

Question 126

Multiple Choice

If Johnny is willing to pay up to $3 for an ice-cream cone but she actually pays $1 for it. The consumer surplus of the ice-cream cone for Johnny

A) is $1.
B) is $2.
C) is $4.
D) cannot be determined without information about the market structure.

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