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:
1.D 2.A 3.C 4.A 5.B 6.C
Explanation:
I hope this helps you some!
Answer:
The united states is considered to have a high standard of living because brainly.
Explanation:
Boiling an egg will decrease the temperature during the process
The word 'recalcitrant' has a Latin origin<em> </em>(<em>calcitrare</em>) and was originally used for describing "to kick" actions.
<h3>What does recalcitrant mean?</h3>
Recalcitrant is a word derived from <em>calcitrare</em><em> </em>(Latin) and originally used for indicating "to kick" actions.
A person considered 'recalcitrant' is someone who is obstinately defiant of authorities and/or social restraints.
Two synonyms of this word (recalcitrant) may be ungovernable and insubordinate, whereas two antonyms include docile and subordinate.
Learn more about the meaning of recalcitrant here:
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