Scenario 12-1 Max and Mark Enjoy Beer. Max Places a $23 Value

question 192

Multiple Choice

Scenario 12-1
Max and Mark enjoy beer. Max places a $23 value on a bottle of beer, and Mark places a $18 value on it. The equilibrium price for a bottle of beer is $14.
-Refer to Scenario 12-1. How much total consumer surplus do Max and Mark get when each purchases a bottle of beer?

• A)$14
• B)$9
• C)$4
• D)$13

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Definitions:

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