Table 74 For each of the three potential buyers of oranges, the table displays the willingness to pay for the first three oranges of the day. Assume Allison, Bob, and Charisse are the only three...

Table 74<br>For each of the three potential buyers of oranges, the table displays the willingness to pay for the first three oranges of the day. Assume Allison, Bob, and Charisse are the only three buyers of<br>oranges, and only three oranges can be supplied per day.<br>Willingness to Pay<br>(Dollars)<br>First Orange Second Orange Third Orange<br>Allison<br>2.00<br>1.50<br>0.75<br>Bob<br>1.50<br>0.75<br>1.00<br>0.60<br>Charisse<br>0.25<br>0.00<br>Refer to Table 7-4. If the market price of an orange increases from $0.80 to $1.05, then consumer surplus<br>a. increases by s0.75.<br>b. decreases by $0.75<br>e decreases by S1.00<br>d. decreases by $0.95<br>

Extracted text: Table 74 For each of the three potential buyers of oranges, the table displays the willingness to pay for the first three oranges of the day. Assume Allison, Bob, and Charisse are the only three buyers of oranges, and only three oranges can be supplied per day. Willingness to Pay (Dollars) First Orange Second Orange Third Orange Allison 2.00 1.50 0.75 Bob 1.50 0.75 1.00 0.60 Charisse 0.25 0.00 Refer to Table 7-4. If the market price of an orange increases from $0.80 to $1.05, then consumer surplus a. increases by s0.75. b. decreases by $0.75 e decreases by S1.00 d. decreases by $0.95

Jun 07, 2022

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Table 74 For each of the three potential buyers of oranges, the table displays the willingness to pay for the first three oranges of the day. Assume Allison, Bob, and Charisse are the only three...

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