John purchases a 1964 Mustang for $40,000 and gets consumer surplus of $5,000 A) What is his willingness to pay? B) If he had purchased the car for $$35,000, what would his consumer surplus be? B) If...

John purchases a 1964 Mustang for $40,000 and gets consumer surplus of $5,000

A) What is his willingness to pay?

B) If he had purchased the car for $$35,000, what would his consumer surplus be?

B) If the price of the Mustang were $45,000, would would his conumer surplus have been?

Jun 08, 2022

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