O a. -520O'b.-600OC. -560O d.-480QUESTION 25Tim loves to collect Lego architecture sets. Suppose that Tim's willingness to pay for different Lego sets is given below:SetWillingness.to PaySears Tower40Hancock Center70Fallingwater100Shanghai80Robie House80Suppose that Tim can purchase a lego bundle with all 5 sets for the price of $200, what is his CS from the bundle?a. 150O b. 130O c. 170O d. 200OUESTION 26

Consumer Surplus = Maximum Willingness to pay Price - Actual Price of the product. Tims willingness…

Answered: O a. -520 O'b.-600 Oc. -560 O d. -480…

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter6: Consumer Choices

Section: Chapter Questions

Problem 4SCQ: As a college student you work at a part-time job, but your parents also send you a monthly...

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