Table 4-2

-Refer to Table 4-2.The table above lists the highest prices five consumers are willing to pay for a theater ticket.If the price of one of the tickets is $10,
A)everyone will buy a ticket except for Esther.
B)only Anya and Basil will buy tickets.
C)Celeste's consumer surplus is $25.
D)the total consumer surplus from the purchase of tickets will be $61.

Question

Table 4-2
 
-Refer to Table 4-2.The table above lists the highest prices five consumers are willing to pay for a theater ticket.If the price of one of the tickets is $10,
A)everyone will buy a ticket except for Esther. 
B)only Anya and Basil will buy tickets. 
C)Celeste's consumer surplus is $25. 
D)the total consumer surplus from the purchase of tickets will be $61.

Quizplus · Accepted Answer

The price of a ticket is $10. Anya, Basil, and Celeste are willing to pay more than $10 for a ticket, so they will all buy tickets. Esther is willing to pay only $8 for a ticket, so she will not buy a ticket.

Table 4-2 -Refer to Table 4-2.The Table Above Lists the Highest Prices