Henry is willing to pay 45 cents, and Janine is willing to pay 55 cents, for 1 pound of bananas. When the price of bananas falls from 50 cents a pound to 40 cents a pound, Select one: a. Henry experiences an increase in consumer surplus, but Janine does not. O b. both Janine and Henry experience an increase in consumer surplus. c. neither Janine nor Henry experiences an increase in consumer surplus. O d. Janine experiences an increase in consumer surplus, but Henry does not.
Henry is willing to pay 45 cents, and Janine is willing to pay 55 cents, for 1 pound of bananas. When the price of bananas falls from 50 cents a pound to 40 cents a pound, Select one: a. Henry experiences an increase in consumer surplus, but Janine does not. O b. both Janine and Henry experience an increase in consumer surplus. c. neither Janine nor Henry experiences an increase in consumer surplus. O d. Janine experiences an increase in consumer surplus, but Henry does not.
Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter7: Consumers, Producers, And The Efficiency Of Markets
Section: Chapter Questions
Problem 4PA
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