1. A college student enjoys eating pizza. Her willingness to pay for each slice is shown in the following table: Number of pizza slices 1 2 3 4 5 6 7 Willingness to pay (per slice) $6 5 4 3 2 1 O a. If pizza slices cost $3 each, how many slices will she buy? How much consumer surplus will she enjoy?
1. A college student enjoys eating pizza. Her willingness to pay for each slice is shown in the following table: Number of pizza slices 1 2 3 4 5 6 7 Willingness to pay (per slice) $6 5 4 3 2 1 O a. If pizza slices cost $3 each, how many slices will she buy? How much consumer surplus will she enjoy?
Principles of Microeconomics
7th Edition
ISBN:9781305156050
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter21: The Theory Of Consumer Choice
Section: Chapter Questions
Problem 5PA
Related questions
Question
![10:17
OT
1. A college student enjoys eating pizza. Her
willingness to pay for each slice is shown in the
following table:
Number of pizza
slices
к
1
2
3
4
5
6
7
Willingness to pay (per
slice)
$6
+
LO
5
4
3
2
1
a. If pizza slices cost $3 each, how many slices
will she buy? How much consumer surplus will
she enjoy?
O
3](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F153a5c00-9fe8-4dc2-ae6b-bdd1a996badc%2Fc2563aa2-078d-4dff-850f-29d78f300257%2Fz9ltwbf_processed.jpeg&w=3840&q=75)
Transcribed Image Text:10:17
OT
1. A college student enjoys eating pizza. Her
willingness to pay for each slice is shown in the
following table:
Number of pizza
slices
к
1
2
3
4
5
6
7
Willingness to pay (per
slice)
$6
+
LO
5
4
3
2
1
a. If pizza slices cost $3 each, how many slices
will she buy? How much consumer surplus will
she enjoy?
O
3
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