Microeconomics
Microeconomics
2nd Edition
ISBN: 9781259813337
Author: KARLAN, Dean S., Morduch, Jonathan
Publisher: Mcgraw-hill Education,
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Chapter 5, Problem 24PA
To determine

The value of the existence of the market in the given figure.

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Samantha went to a farmers' market to buy strawberries. She is willing to pay up to $5 for the first pound, $3.50 for the secondpound, and $2 for the third. She ended up buying strawberries from a seller who offered them for $3 per pound. Suppose thelowest price the seller would accept is $2.10 per pound. How much value did this transaction generate? ($)
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