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The Price of a Bag of Chips Is $1, but a Customer

question 20

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The price of a bag of chips is $1, but a customer is willing to pay up to $3.What would be the consumer surplus on this purchase?


Definitions:

Reservoir

In the context of microbiology and epidemiology, a reservoir refers to any person, animal, plant, soil, or other substance in which an infectious agent normally lives and multiplies.

Reservoir Host

An organism that harbors a pathogen for an extended period, without being affected by it, serving as a source of infection for other species.

Pathogen

A biological agent that causes disease or illness to its host.

Carrier

An individual or entity that transports goods or people; in genetics, it also refers to someone who has one copy of a recessive gene for a disease.

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