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:
He is his ancestor
Explanation:
im almost postive thats the answer
C. because if he only has $150 with him he can't spend more than $150 dollars.
Answer:
d. All of these
Explanation:
A timeline can be defined as a graphical representation of a series of important events in order in which they have occurred i.e in a chronological or sequential order. Thus, a timeline shows the order of events from top to bottom or left to right, starting with the earliest and moving forward to the most recent (latest).
Generally, a timeline is typically considered to be a cause and effect graphic organizer due to the fact that it illustrates events in a chronological or sequential order, their place in history, and how these events are interrelated or led to another.
This ultimately implies that, timelines show;
a. The order of events.
b. An event’s place in history.
c. Why an event may have taken place.
<em>For example, a timeline can be used to show the order in which the various battles fought during the American Revolutionary War occurred. </em>
