Jane is willing to pay $4 for the first cup of coffee a day, $2.50 for the second cup, and $1 for the third cup, after which she won't buy any coffee. The price of a cup of coffee is $2.40
Jane's consumer surplus from the coffee she buys is ________ per day. A) $1.60
B) $1.70
C) $4.80
D) $6.50
B
Economics
You might also like to view...
In the figure above, the firm's economic
A) loss will be greater than $30 per day. B) loss will be $30 or less per day. C) profit will be between $0 and $30 per day. D) profit will be greater than $30.01 per day.
Economics
Why is economics called an empirical science?
A) because economics has been used to both create and destroy empires B) because economics uses impressions to evaluate the usefulness of its models C) because economics relies on real-world data to determine the usefulness of a model D) because economics utilizes intuition rather than data to evaluate a model's worth
Economics