Exploring Economics
Exploring Economics
8th Edition
ISBN: 9781544336312
Author: Sexton
Publisher: Cengage
Question
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Chapter 7, Problem 2P
To determine

(a)

The amount S would be willing to pay for one bag of potato chips.

To determine

(b)

The amount S would be willing to pay for second bag of potato chips.

To determine

(c)

The consumer surplus if actual value of potato chips is $2.50 and S buys five bags as shown.

To determine

(d)

The total willingness to pay for 5 bags of person S.

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