Table: Maximum Willingness to Pay
The table shows four individuals' maximum willingness to pay for one pound of bananas. If the market price of bananas is $0.50/lb, what is the total consumer surplus in the market?
A) $4.00
B) $2.50
C) $2.75
D) $4.25

Question

Table: Maximum Willingness to Pay
 The table shows four individuals' maximum willingness to pay for one pound of bananas. If the market price of bananas is $0.50/lb, what is the total consumer surplus in the market?
A) $4.00 
B) $2.50 
C) $2.75 
D) $4.25

Quizplus · Accepted Answer

The Answer of Table: Maximum Willingness to Pay
 The table shows four individuals' maximum willingness to pay for one pound of bananas. If the market price of bananas is $0.50/lb, what is the total consumer surplus in the market?
A) $4.00 
B) $2.50 
C) $2.75 
D) $4.25