Table 7-5
For each of three potential buyers of oranges,the table displays the willingness to pay for the first three oranges of the day.Assume Alex,Barb,and Carlos are the only three buyers of oranges,and only three oranges can be supplied per day.

-Refer to Table 7-5.Who experiences the largest gain in consumer surplus when the price of an orange decreases from $1.05 to $0.75?

Question

Table 7-5
For each of three potential buyers of oranges,the table displays the willingness to pay for the first three oranges of the day.Assume Alex,Barb,and Carlos are the only three buyers of oranges,and only three oranges can be supplied per day.
 
-Refer to Table 7-5.Who experiences the largest gain in consumer surplus when the price of an orange decreases from $1.05 to $0.75?

Quizplus · Accepted Answer

Alex and Barb both experience a gain of $0.30 in consumer surplus, while Carlos's gain is zero.

Table 7-5 For Each of Three Potential Buyers of Oranges,the Table Displays