Tom Would Be Willing to Pay a Maximum of $2,500

question 38

Multiple Choice

Tom would be willing to pay a maximum of $2,500 to attend the Super Bowl this year,and he can buy a ticket for $2,050.His consumer surplus is

• A) $25.
• B) $50.
• C) $275.
• D) $450.

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Definitions:

Syllogism

A form of logical reasoning where a conclusion is drawn from two given or assumed propositions (premises), each of which shares a common or middle term not present in the conclusion.

Aristotle

A Greek philosopher and polymath during the Classical period in Ancient Greece, one of the most influential figures in Western philosophy and science.

Equilateral Triangle

A polygon with three sides of equal length and three angles of equal measure, resulting in a symmetrical shape.

Natural Concept

A mental representation of objects or events from real-life experiences, as opposed to definitions precisely defined by rules.