Multiple Choice
?Exhibit
The schedule below represents the willingness of a typical consumer to pay for wine in a year. Suppose there are 10,000 identical consumers in the community.
-Refer to Exhibit. If the market price of wine is $20, the total consumer surplus for the community equals:
A) $20,000.
B) $30,000.
C) $50,000.
D) $60,000.
Correct Answer:
Verified
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