Four roommates are planning to spend the weekend watching movies on demand. Here is their willingnesis to pay for each film: Judd $7 Joel $5 Gus Tim First fim Second film Third fim Fourth film Fifth fim $3 2. $2 1. 4 3. Suppose it costs $10 to rent a movie. In order to maximize total surplus (wilingness to pay less total cost), they should rent movies If they split costs equally, Judd's surplus will be whereas Tim's will be

Four roommates are planning to spend the weekend watching movies on demand. Here is their willingnesis to pay for each film: Judd $7 Joel $5 Gus Tim First fim Second film Third fim Fourth film Fifth fim $3 2. $2 1. 4 3. Suppose it costs $10 to rent a movie. In order to maximize total surplus (wilingness to pay less total cost), they should rent movies If they split costs equally, Judd's surplus will be whereas Tim's will be

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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pls, solve this ques within 10-15 minutes with clear explanations and also explain why other options are wrong I'll give you multiple upvotes.
Betty is willing to pay up to $150 for a particular pair of boots. She is able to buy the boots for $120. The marginal cost of producing the boots is $60. How large is the total economic surplus associated with her purchase of the boots?
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