Assume Allison, Bob, and Charisse are the only three buyers of oranges, and only three oranges can be supplied per day.
Refer to Table 7-5. If the market price of an orange is $0.65, then consumer surplus amounts to <u>$3.60</u>
<h3>What
is consumer surplus?</h3>
Consumers' surplus is a measure of consumer welfare and is defined as the excess of social valuation of product over the price actually paid. It is measured by the area of a triangle below a demand curve and above the observed price. Since there is willingness to pay.
Therefore, the correct answer is as given above.
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The complete question goes thus:
For each of three potential buyers of oranges, the table displays the willingness to pay for the first three oranges of the day. Assume Allison, Bob, and Charisse are the only three buyers of oranges, and only three oranges can be supplied per day.
Refer to Table 7-5. If the market price of an orange is $0.65, then consumer surplus amounts to________
Answer:
Low Frequency, Long Wavelength, and Low Energy Transfer
Explanation:
Radio waves are on the larger(and lower frequency) side of the electromagnetic spectrum. These longer wavelengths mean that radio waves have a lower frequency because it takes longer for larger waves to travel. Therefore, less radio waves can travel a certain distance in a minute than a wave of a shorter wavelenght(and therefore lower frequency). Radio waves are considered a low-energy transfer wave. This is because they can be used in most environments for communication, air-traffic control, and broadcasting with little to no harm to the organisms around them. Even though radio waves can be found all around us, because they don't carry much energy, we aren't harmed by the radio waves.
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