Use the following to answer questions: Table: Sweetbrand Cheesecakes $$\begin{array} { l c }
\hline \text { Consumer } & \begin{array} { c }
\text { Maximum willingness to pay } \
\text { for Sweetbrand cheesecakes }
\end{array} \
\hline \text { Frodo } & \$ 11.65 \
\text { Sam } & 17.99 \
\text { Mary } & 12.99 \
\text { Pippin } & 16.75 \
\hline
\end{array}$$
-(Table: Sweetbrand Cheesecakes) The table shows the maximum consumer willingness to pay for Sweetbrand cheesecakes. Which of the four consumers receives the most consumer surplus, if the market price of the cheesecakes is $12.50 each?

Question

Use the following to answer questions: Table: Sweetbrand Cheesecakes $$\begin{array} { l c } 
\hline \text { Consumer } & \begin{array} { c } 
\text { Maximum willingness to pay } \
\text { for Sweetbrand cheesecakes }
\end{array} \
\hline \text { Frodo } & \$ 11.65 \
\text { Sam } & 17.99 \
\text { Mary } & 12.99 \
\text { Pippin } & 16.75 \
\hline
\end{array}$$
-(Table: Sweetbrand Cheesecakes) The table shows the maximum consumer willingness to pay for Sweetbrand cheesecakes. Which of the four consumers receives the most consumer surplus, if the market price of the cheesecakes is $12.50 each?

Quizplus · Accepted Answer

Sam has the highest willingness to pay ($17.99) compared to the market price ($12.50), resulting in the largest consumer surplus of $5.49.

Use the Following to Answer Questions: Table: Sweetbrand Cheesecakes -(Table: Sweetbrand Cheesecakes) the Table Shows the Maximum Consumer Willingness