Marco goes to the pet store to buy a dozen Koi fish for his new Koi pond. He is willing to pay $200 for the dozen fish, but buys them for a total of $140. Marco's consumer surplus from the purchase is

A) $5. B) $60. C) $140. D) $200.

B

Economics

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Answer the question based on the table below.PriceQuantityTFCTVC$55$25$10510252051525505202560At what point on the table would a purely competitive firm cover all of its costs and earn only normal profits? 

A. Q = 5 B. Q = 10 C. Q = 20 D. Q = 15

Economics

Use the following graph of the bicycle market to answer the question below.S1 and D1 are the original supply and demand curves. D2 and D3 and S2 and S3 are possible new demand and supply curves. Starting from the initial equilibrium (point 1), which point on the graph is most likely to be the new equilibrium after an increase in wages of bicycle workers and a significant increase in the price of gasoline?

A. 4 B. 3 C. 5 D. 6

Economics