Back to AssignmentAttemptsKeep the Highest /36. Consumer SurplusSimone buys an iPhone for $150 and gets a consumer surplus of $200.Her willingness to pay for an iPhone is $If she had bought the iPhone on sale for $100, her consumer surplus would have been SIf the price of the iPhone had been $450, her consumer surplus would have beenSGradehpho&75

Equilibrium is achieved at the output level where Qs equals Qd

ts Keep the Highest /3 nsumer Surplus e buys an iPhone for $150 and gets a consumer surplus of $200. illingness to pay for an iPhone is $ had bought the iPhone on sale for $100, her consumer surplus would h. price of the iPhone had been $450, her consumer surplus would have be

ts Keep the Highest /3 nsumer Surplus e buys an iPhone for $150 and gets a consumer surplus of $200. illingness to pay for an iPhone is $ had bought the iPhone on sale for $100, her consumer surplus would h. price of the iPhone had been $450, her consumer surplus would have be

Microeconomics A Contemporary Intro

10th Edition

ISBN:9781285635101

Author:MCEACHERN

Publisher:MCEACHERN

Chapter6: Consumer Choice And Demand

Section: Chapter Questions

Problem 15PAE

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Attempts
Keep the Highest /3
6. Consumer Surplus
Simone buys an iPhone for $150 and gets a consumer surplus of $200.
Her willingness to pay for an iPhone is $
If she had bought the iPhone on sale for $100, her consumer surplus would have been S
If the price of the iPhone had been $450, her consumer surplus would have beenS
Grade
hp
ho
&
7
5

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