Assume that there are four consumers A, B, C, and D, and the prices that each of them is willing to pay for a glass of lemonade Is, respectively, $2.50, $2.25, $200, and $1.75. If the actual price of lemonade is $1.50 per glass, then consumer surplus in this market will be Multiple Choice Ο Ο ο ο ο Ο $2.50. $1.50 $1.00. $3.25. $4.50.

Assume that there are four consumers A, B, C, and D, and the prices that each of them is willing to pay for a glass of lemonade Is, respectively, $2.50, $2.25, $200, and $1.75. If the actual price of lemonade is $1.50 per glass, then consumer surplus in this market will be Multiple Choice Ο Ο ο ο ο Ο $2.50. $1.50 $1.00. $3.25. $4.50.

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter7: Market Efficiency And Welfare

Section: Chapter Questions

Problem 1P

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