Mark and rasheed are at the bookstore buying new calculators for the semester. mark is willing to pay $75 and rasheed is willing

Question

3 years ago

10

Mark and rasheed are at the bookstore buying new calculators for the semester. mark is willing to pay $75 and rasheed is willing

to pay $100 for a graphing calculator. the price for a calculator at the bookstore is $65. how much is their total consumer surplus?

Business

1 answer:

Rom4ik [11] · Answer 1 · 2022-07-05T20:12:31+03:00

The correct answer is $45

Mark and Rasheed are at the bookstore buying new calculators for the semester. Mark is willing to pay $75 ( $75 - $65 = $10 ) and Rasheed is willing to pay $100 ( $100 - $65 = $35 ) for a graphing calculator. The price for a calculator at the bookstore is $65. Their total consumer surplus ( $10 + $35 = $45 ) is $45