Kyra buys an iPhone for $240 and gets consumersurplus 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 wouldher consumer surplus have been?
Kyra buys an iPhone for $240 and gets consumersurplus 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 wouldher consumer surplus have been?
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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Question
Kyra buys an iPhone for $240 and gets
surplus
a. What is her
b. If she had bought the iPhone on sale for $180,
what would her consumer surplus have been?
c. If the
her consumer surplus have been?
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