**Table 7-1: Willingness to Pay (WTP)**| | WTP ||--------|------|| Monika | $50 || Thuy | $30 || Alex | $25 || Michelle | $24 || John | $21 || David | $20 |Monika, Thuy, Alex, Michelle, John, and David are fans of the movie *Black Panther*. Table 7-1 shows their willingness to pay for a Blu-Ray DVD of the movie. The price of the DVD drops from $26 to $25. Who is the marginal buyer in this market?- Thuy- Michelle- John- Alex

At $26, the marginal willingness to pay for the first two consumers was higher than $26 and hence…

Table 7-1 Willingness to Pay (WTP) Monika $50 Thuy $30 Alex $25 Michelle $24 John $21 David $20 Monika, Thuy, Alex, Michelle, John and David are fans of the movie the Black Panther. Table 7-1 shows their willingness to pay for a Blue-Ray DVD of the movie. The price of the DVD drops from $26 to $25. Who is the marginal buyer in this market? O Thuy O Michelle O John O Alex

Table 7-1 Willingness to Pay (WTP) Monika $50 Thuy $30 Alex $25 Michelle $24 John $21 David $20 Monika, Thuy, Alex, Michelle, John and David are fans of the movie the Black Panther. Table 7-1 shows their willingness to pay for a Blue-Ray DVD of the movie. The price of the DVD drops from $26 to $25. Who is the marginal buyer in this market? O Thuy O Michelle O John O Alex

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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