There are three buyers, A B. and C. When the price is P = $2, A buys 2 units, B buys 1 unit, and C buys O units. Now we offer the same good at P = $1 to these three buyers but restrict the quantity they can buy to one unit per person, and all three individuals buy one unit each. We can conclude that O A's consumer surplus is higher in the second case. O the total consumer surplus is higher in the second case. O B's and C's consumer surplus is higher in the second case. O All of the above. O There is not enough information to answer this question.

There are three buyers, A B. and C. When the price is P = $2, A buys 2 units, B buys 1 unit, and C buys O units. Now we offer the same good at P = $1 to these three buyers but restrict the quantity they can buy to one unit per person, and all three individuals buy one unit each. We can conclude that O A's consumer surplus is higher in the second case. O the total consumer surplus is higher in the second case. O B's and C's consumer surplus is higher in the second case. O All of the above. O There is not enough information to answer this question.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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