Solved

Marti Wanted to Replenish Her Wardrobe and Went to the $30

Question 140

Multiple Choice

Marti wanted to replenish her wardrobe and went to the $30 rack at K-Mart. There she saw three stylish dresses. She was delighted because she would have been willing to pay $40 for the first dress, $35 for the second dress, and $30 for the third dress. She bought all three. Which of the following is correct?


A) Only the third dress sold for its price.
B) The consumer surplus she derived was $90.
C) The consumer surplus she derived was $105.
D) The consumer surplus she derived was $15.
E) The consumer surplus she derived was zero because, for the third, price was exactly what she was willing to pay.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents