The table Consumer Surplus and Phantom Tickets shows each student's willingness to pay for a Phantom of the Opera ticket. Assume that each student wants to buy one ticket. If the price of a ticket to see Phantom of the Opera is $50, then the total consumer surplus for the five students is: Willingness to pay 150 Student Jessicag Jackeling 125
The table Consumer Surplus and Phantom Tickets shows each student's willingness to pay for a Phantom of the Opera ticket. Assume that each student wants to buy one ticket. If the price of a ticket to see Phantom of the Opera is $50, then the total consumer surplus for the five students is: Willingness to pay 150 Student Jessicag Jackeling 125
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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
Transcribed Image Text:The table Consumer Surplus and Phantom Tickets shows each student's willingness to pay for a Phantom of the Opera ticket.
Assume that each student wants to buy one ticket. If the price of a ticket to see Phantom of the Opera is $50, then the total
consumer surplus for the five students is:
Willingness
Student
to pay
Jessicat
150
Jackeling
125
Bradx
105
Roberta
60
Gweng
25%
tudent Willingness to pay
Jessica 150
Jackelin 125
Brad 105
Robert 60
Gwen 25
A
175
В
240
Cc) 230
100
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