Everyone refers to Jerry as "Big Guy." He is 6'4" tall and weighs 275 pounds (he says) . It's probably closer to 300 pounds. Jerry loves hamburgers. He ate 4 of them at McDonald's one evening. He figured the last one was just worth the $1 price he paid. If his demand curve for hamburgers is downward sloping, then he
A) gained no consumer surplus because his demand curve is downward sloping
B) would have gained consumer surplus if he had eaten one more hamburger
C) gained consumer surplus on each of the four he consumed
D) gained consumer surplus only on the first three hamburgers
E) gained $1 consumer surplus on the fourth hamburger alone
Correct Answer:
Verified
Q125: Helen is a computer analyst earning $750,000
Q126: Maria goes shopping for wedding shoes and
Q127: Which of the following is likely to
Q128: Suppose your best friend's birthday is next
Q129: How do you calculate the total consumer
Q131: Ed thinks he looks good in tweed.
Q132: Joel buys ten disks for his new
Q133: Which of the following do you know
Q134: Catherine's demand for fish takes the conventional
Q135: George Carlson wears cuff links with his
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents