From the previous graph, you can tell that Kenji is willing to pay for his 8th slice of apple pie each week. Because he has to pay only $1.25 per slice, the consumer surplus he gains from the 8th slice of apple pie is Suppose the price of apple pie were to fall to $1.00 per slice. At this lower price, Kenji would receive a consumer surplus of from the 8th slice of apple pie he buys.

From the previous graph, you can tell that Kenji is willing to pay for his 8th slice of apple pie each week. Because he has to pay only $1.25 per slice, the consumer surplus he gains from the 8th slice of apple pie is Suppose the price of apple pie were to fall to $1.00 per slice. At this lower price, Kenji would receive a consumer surplus of from the 8th slice of apple pie he buys.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

i need help with this question I keep getting it wrong, i don't understand it. it is a microeconomics question 2.

From the previous graph, you can tell that Kenji is willing to pay
for his 8th slice of apple pie each week. Because he has to pay only
$1.25 per slice, the consumer surplus he gains from the 8th slice of apple pie is
Suppose the price of apple pie were to fall to $1.00 per slice. At this lower price, Kenji would receive a consumer surplus of
from the 8th
slice of apple pie he buys.

Study of decisions made by households and business firms at an individual level. It includes several laws and theorems related to demand, supply, production, allocation of resources, and prices.

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