There Are 100 Consumers, Each of Whom Values a Concert

question 41

Multiple Choice

There are 100 consumers, each of whom values a concert ticket at a unique whole number dollar amount between $1 and $100. One customer is willing to pay $1, a second is willing to pay $2, a third is willing to pay $3, and so on. An unlimited number of concert tickets are on sale for $15 each. What is the total consumer surplus in this market?

• A) $3,612.50
• B) $4,250.00
• C) $4,887.50
• D) $5,000.00

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Definitions:

Genetic Sex

Genetic sex is determined by the chromosomes a person has, commonly XX for female and XY for male, influencing the biological characteristics associated with sex.

Gender Role

The behaviors, attitudes, and expectations prescribed by society for individuals based on their gender.

Gender Identity

An individual's personal sense of their own gender, which may or may not correspond to the sex they were assigned at birth.

Anatomical Sex

The classification of individuals based on their reproductive and sexual anatomy, such as male, female, or intersex, usually assigned at birth.