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b. If the cruise costs $1,000, how many passengers will there be? 6 passenger(s) c. If the cruise costs $1,000, how much total revenue will be collected? 6000 d. If the cruise costs $1,000, how much consumer surplus will those passengers enjoy? 1000

b. If the cruise costs $1,000, how many passengers will there be? 6 passenger(s) c. If the cruise costs $1,000, how much total revenue will be collected? 6000 d. If the cruise costs $1,000, how much consumer surplus will those passengers enjoy? 1000

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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The following data reveal how much each consumer is willing to pay for an Alaskan Cruise.

Ed- $2000 Hugo-$1800 Isabel-$1500 Carol -$1500 Gigi-$1300 Bob-$1100 Amy-$900 Eduardo-$400

a. Draw the Market Demand Curve For these 8 consumers (Want to check this is correct)

2,100 Tools 1,900 1,700 Dmarket 1,500 1,300 ,100 900 700 500 300 1 2 4 6 7 8 9. Quantity Price.
Transcribed Image Text:2,100 Tools 1,900 1,700 Dmarket 1,500 1,300 ,100 900 700 500 300 1 2 4 6 7 8 9. Quantity Price.
Instructions: Enter your responses as a whole number. b. If the cruise costs $1,000, how many passengers will there be? 6 passenger(s) c. If the cruise costs $1,000, how much total revenue will be collected? 6000 d. If the cruise costs $1,000, how much consumer surplus will those passengers enjoy? 1000
Transcribed Image Text:Instructions: Enter your responses as a whole number. b. If the cruise costs $1,000, how many passengers will there be? 6 passenger(s) c. If the cruise costs $1,000, how much total revenue will be collected? 6000 d. If the cruise costs $1,000, how much consumer surplus will those passengers enjoy? 1000
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