At a garage sale, Dominique purchases a sewing machine for $30 when she was willing to pay $55. If the sewing machine costs $200 new, Dominique's consumer surplus would be Select one: O A. $120. OB. $25. O C. $170. D. $0. E. $145.
At a garage sale, Dominique purchases a sewing machine for $30 when she was willing to pay $55. If the sewing machine costs $200 new, Dominique's consumer surplus would be Select one: O A. $120. OB. $25. O C. $170. D. $0. E. $145.
Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter7: Consumers, Producers, And The Efficiency Of Markets
Section: Chapter Questions
Problem 7PA
Related questions
Question
![At a garage sale, Dominique purchases a sewing machine for $30 when she
was willing to pay $55. If the sewing machine costs $200 new, Dominique's
consumer surplus would be
Select one:
A. $120.
В. $25.
C. $170.
O D. $0.
OE. $145.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F2e9fb7a6-c940-4212-929c-6e2c52ba920d%2F79045044-fd2a-4c7c-b586-56f752a0694f%2Fgxjjbo5_processed.png&w=3840&q=75)
Transcribed Image Text:At a garage sale, Dominique purchases a sewing machine for $30 when she
was willing to pay $55. If the sewing machine costs $200 new, Dominique's
consumer surplus would be
Select one:
A. $120.
В. $25.
C. $170.
O D. $0.
OE. $145.
![The table below shows the quantities of toffee bars and bags of cashews that
a consumer could consume over a 1-week period.
of
Toffee
Cashews (bags)
(bars)
Marginal
Total
Marginal
Utility
Total
Units
Utility
Utility
Utility
1
10
10
12
12
8
18
10
22
3
23
7.
29
4
26
34
1
27
36
6.
27
37
27
27
TABLE 6-1
Refer to Table 6-1. The maximum utility that a consumer can obtain from toffee
bars and bags of cashews per week is
Select one:
A. 54.
B. 74.
O C. 64.
D. 22.
E. 56.
5.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F2e9fb7a6-c940-4212-929c-6e2c52ba920d%2F79045044-fd2a-4c7c-b586-56f752a0694f%2F1dm9bid_processed.png&w=3840&q=75)
Transcribed Image Text:The table below shows the quantities of toffee bars and bags of cashews that
a consumer could consume over a 1-week period.
of
Toffee
Cashews (bags)
(bars)
Marginal
Total
Marginal
Utility
Total
Units
Utility
Utility
Utility
1
10
10
12
12
8
18
10
22
3
23
7.
29
4
26
34
1
27
36
6.
27
37
27
27
TABLE 6-1
Refer to Table 6-1. The maximum utility that a consumer can obtain from toffee
bars and bags of cashews per week is
Select one:
A. 54.
B. 74.
O C. 64.
D. 22.
E. 56.
5.
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