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2 Jan 2018
12) Suppose that the price of a hamburger is $3. Victoria is willing to pay $5 for the first hamburger, David is willing to pay $4 for the second hamburger, Kelly is willing to pay $3 for the third hamburger, and Antony is willing to pay $2 for the fourth hamburger. In equilibrium, what is the total consumer surplus from the consumption of hamburger? (2 points) A) $0 B) $2 C) $9 D) $3 E) $4
12) Suppose that the price of a hamburger is $3. Victoria is willing to pay $5 for the first hamburger, David is willing to pay $4 for the second hamburger, Kelly is willing to pay $3 for the third hamburger, and Antony is willing to pay $2 for the fourth hamburger. In equilibrium, what is the total consumer surplus from the consumption of hamburger? (2 points) A) $0 B) $2 C) $9 D) $3 E) $4
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