Table 7-4
for Each of the Three Potential Buyers of Apples

question 192

Multiple Choice

Table 7-4
For each of the three potential buyers of apples, the table displays the willingness to pay for Bob, Sasha, and Eric, who are the only three buyers of apples. Assume that only three apples can be supplied per day.
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$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\text {Willingness to Pay}$
$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\text {(Dollars) }$
$\begin{array}{|c|c|c|c|} \hline& \text { First Apple } & \text { Second Apple } & \text { Third Apple } \\\hline \text { Bob } & 2.00 & 1.50 & 0.75 \\\hline \text { Sasha } & 1.50 & 1.00 & 0.60 \\\hline \text { Eric } & 0.75 & 0.25 & 0.00 \\\hline\end{array}$

-Refer to Table 7-4. If the market price of an apple increases from $0.80 to $1.05, then consumer surplus

• A)increases by $0.75.
• B)decreases by $0.95.
• C)decreases by $0.75.
• D)decreases by $1.00.

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Definitions:

Intrapersonal Intelligence

The capacity to understand oneself, including one's thoughts and emotions, and use such knowledge effectively in life.

Divergent Thinking

A mental approach or technique for producing imaginative solutions by investigating numerous potential answers.

Problem Solving

The process of identifying a challenge and finding an effective solution for it.

Systematically Eliminating

The process of gradually removing elements or factors to identify the root cause of an issue or to simplify a system.