Consider the following demand for online music lessons. P = 120-5Q. The site provides two payment options: Option A. Individual lessons cost $40 a lesson. Option B. You can sign up for 20 lessons for $700. Based on a willingness to pay analysis, the better option is. This option provides dollars in additional surplus.

Consider the following demand for online music lessons. P = 120-5Q. The site provides two payment options: Option A. Individual lessons cost $40 a lesson. Option B. You can sign up for 20 lessons for $700. Based on a willingness to pay analysis, the better option is. This option provides dollars in additional surplus.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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