Melissa buys an iPhone for 240 and gets consumer surplus Melissa buys an iPhone for $240 and gets consumer surplus of $160. a. What is her willingness to pay? b. If she had bought the iPhone on sale for $180, what would her consumer surplus have been? c. If the price of an iPhone were $500, what would her consumer surplus have been? Melissa buys an iPhone for 240 and gets consumer surplus

Essentials of Economics (MindTap Course List)
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Chapter7: Consumers, Producers, And The Efficiency Of Markets
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Melissa buys an iPhone for 240 and gets consumer surplus


Melissa buys an iPhone for $240 and gets consumer surplus of $160.

a. What is her willingness to pay?

b. If she had bought the iPhone on sale for $180, what would her consumer surplus have been?

c. If the price of an iPhone were $500, what would her consumer surplus have been?

Melissa buys an iPhone for 240 and gets consumer surplus

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