A market has four individuals, each considering buying á grill. As a grill-master, and finds a grill a necessity, so she is willing to pay $400 for a grill. Javier is a meat-lover, honing his grilling skills, and is willin to pay $350 for a grill. Kamal wants to impress his friends with his vegetable grilling skills and is willing to pay $320 for a grill. Lina loves grilled shrimp and thinks it might be cheaper in the long run if she grills her own shrimp instead of eating out at a restaurant, so she is willin to pay $200 for a grill. If the market price of grills falls from $375 to $330, which of the following statements is true? Multiple Choice Martine will experience an increase in consumer surplus of $45. urolus of $45.

A market has four individuals, each considering buying á grill. As a grill-master, and finds a grill a necessity, so she is willing to pay $400 for a grill. Javier is a meat-lover, honing his grilling skills, and is willin to pay $350 for a grill. Kamal wants to impress his friends with his vegetable grilling skills and is willing to pay $320 for a grill. Lina loves grilled shrimp and thinks it might be cheaper in the long run if she grills her own shrimp instead of eating out at a restaurant, so she is willin to pay $200 for a grill. If the market price of grills falls from $375 to $330, which of the following statements is true? Multiple Choice Martine will experience an increase in consumer surplus of $45. urolus of $45.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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