Scenario 12-3 Suppose Roger and Regina Receive Great Satisfaction from Their Consumption

question 537

Multiple Choice

Scenario 12-3
Suppose Roger and Regina receive great satisfaction from their consumption of cheesecake. Regina would be willing to purchase only one slice and would pay up to $8 for it. Roger would be willing to pay $11 for his first slice, $9 for his second slice, and $5 for his third slice. The current market price is $5 per slice.
-Refer to Scenario 12-3. Assume that the government places a $4 tax on each slice of cheesecake and that the new equilibrium price is $9. What is Regina's consumer surplus from cheesecake?

• A)zero
• B)$2
• C)$3
• D)$6

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Definitions:

Charisma

A quality of an individual that showcases magnetic charm or appeal, influencing others naturally and positively.

Laissez-Faire Leadership

A leadership style characterized by minimal supervision, where leaders grant their team members the freedom to make decisions and take action independently.

Transformational Leadership

A leadership style focused on inspiring and motivating team members to exceed their own interests for the good of the group or organization.

Positive Results

Outcomes of actions or decisions that are beneficial or desired.