Table 1 Buyer Willingness To Pay Lori $50.00 Audrey $30.00 Zach $20.00 Calvin $10.00 2. Refer to Table 1. If the price of the product is $15, then who would be willing to purchase the product? a. Lori b. Lori and Audrey c. Lori, Audrey, and Zach d. Lori, Audrey, Zach, and Calvin 3. Refer to Table 1. If price of the product is $30, then the total consumer surplus is a. $-10. b. $-6. c. $20. d. $30.
Table 1 Buyer Willingness To Pay Lori $50.00 Audrey $30.00 Zach $20.00 Calvin $10.00 2. Refer to Table 1. If the price of the product is $15, then who would be willing to purchase the product? a. Lori b. Lori and Audrey c. Lori, Audrey, and Zach d. Lori, Audrey, Zach, and Calvin 3. Refer to Table 1. If price of the product is $30, then the total consumer surplus is a. $-10. b. $-6. c. $20. d. $30.
Principles of Economics, 7th Edition (MindTap Course List)
7th Edition
ISBN:9781285165875
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter22: Frontiers Of Microeconomics
Section: Chapter Questions
Problem 6PA
Related questions
Question
Table 1
Buyer
Lori $50.00
Audrey $30.00
Zach $20.00
Calvin $10.00
2. Refer to Table 1. If the price of the product is $15, then who would be willing to purchase the
product?
a. Lori
b. Lori and Audrey
c. Lori, Audrey, and Zach
d. Lori, Audrey, Zach, and Calvin
3. Refer to Table 1. If price of the product is $30, then the total
a. $-10.
b. $-6.
c. $20.
d. $30.
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