Geoff Is Willing to Pay $13 for a Sixth Entrance

question 121

Multiple Choice

Geoff is willing to pay $13 for a sixth entrance to a mountain bike park.The market price for entrance is $10.50.The bike park is willing to accept $8.75.The total economic surplus generated from Geoff's sixth trip to the bike park is

• A)$1.75.
• B)$2.50.
• C)$13.00.
• D)$10.50.
• E)$4.25.

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