Buyer Willingness to Pay David $8.00 Laura $7.00 Ty $5.50 Mallory $4.00 Audrey $3.50 In the above table, at different market prices, which statement is NOT correct? Question 27 options: At a price of $9.00, no buyer is willing to purchase the good. When the price is $3.00, each person would receive consumer surplus. At a price of $4.00, total consumer surplus in the market will be $8.50. At a price of $7.50, the consumer surplus for Laura is $0.50.
Buyer Willingness to Pay David $8.00 Laura $7.00 Ty $5.50 Mallory $4.00 Audrey $3.50 In the above table, at different market prices, which statement is NOT correct? Question 27 options: At a price of $9.00, no buyer is willing to purchase the good. When the price is $3.00, each person would receive consumer surplus. At a price of $4.00, total consumer surplus in the market will be $8.50. At a price of $7.50, the consumer surplus for Laura is $0.50.
Chapter7: Market Efficiency And Welfare
Section: Chapter Questions
Problem 2P
Related questions
Question
Buyer | |
David | $8.00 |
Laura | $7.00 |
Ty | $5.50 |
Mallory | $4.00 |
Audrey | $3.50 |
In the above table, at different market prices, which statement is NOT correct?
Question 27 options:
|
At a
|
|
When the price is $3.00, each person would receive
|
|
At a price of $4.00, total consumer surplus in the market will be $8.50.
|
|
At a price of $7.50, the consumer surplus for Laura is $0.50.
|
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