table below shows how much five consumers are wi ise's specialty taco. Each person is willing to consume price of the taco was set at $4.60, what would the to these five people? Willingness to Pay For the 1st For the Consumer arriet arry layra nelly Таco 2nd Taco $6.50 $4.95 $5.00 $4.50 $5.75 $4.85 $4.75 $4.00 $5.50 $4.25 m

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
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The table below shows how much five consumers are willing to pay for Taco
House's specialty taco. Each person is willing to consume 2 tacos at the most. If
the price of the taco was set at $4.60, what would the total consumer surplus be
for these five people?
Willingness to Pay
For the 1st For the
Consumer
Taco
2nd Taco
Harriet
$6.50
$4.95
Larry
$5.00
$4.50
Mayra
$5.75
$4.85
Shelly
$4.75
$4.00
Tim
$5.50
$4.25
Select one:
O a. $4.05
O b. $3.65
O c. $4.50
O d. $3.95
e. $4.00
O f. $4.25
O g. I'll take 2 Points
O h. $5.10
Transcribed Image Text:The table below shows how much five consumers are willing to pay for Taco House's specialty taco. Each person is willing to consume 2 tacos at the most. If the price of the taco was set at $4.60, what would the total consumer surplus be for these five people? Willingness to Pay For the 1st For the Consumer Taco 2nd Taco Harriet $6.50 $4.95 Larry $5.00 $4.50 Mayra $5.75 $4.85 Shelly $4.75 $4.00 Tim $5.50 $4.25 Select one: O a. $4.05 O b. $3.65 O c. $4.50 O d. $3.95 e. $4.00 O f. $4.25 O g. I'll take 2 Points O h. $5.10
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