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Question 11

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Use the following to answer question: Use the following to answer question:   -(Table: Consumer Surplus and Phantom Tickets) The table Consumer Surplus and Phantom Tickets shows each student's willingness to pay for a Phantom of the Opera ticket.Assume that each student wants to buy one ticket.If the box office price of a ticket to see Phantom of the Opera is $50 and there is no other market for tickets,the total consumer surplus for the five students is: A) $100. B) $175. C) $230. D) $240.
-(Table: Consumer Surplus and Phantom Tickets) The table Consumer Surplus and Phantom Tickets shows each student's willingness to pay for a Phantom of the Opera ticket.Assume that each student wants to buy one ticket.If the box office price of a ticket to see Phantom of the Opera is $50 and there is no other market for tickets,the total consumer surplus for the five students is:


A) $100.
B) $175.
C) $230.
D) $240.

Correct Answer:

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