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

question 114

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. Which of the following statements is correct?

• A)Neither Sasha's consumer surplus nor Eric's consumer surplus can exceed Bob's consumer surplus, for any price of an orange.
• B)All three individuals will buy at least one orange only if the price of an orange is less than $0.25.
• C)If the price of an orange is $0.60, then consumer surplus is $4.90.
• D)Eric will always have the highest consumer surplus.

Appreciate the impact of professional organizations in advancing the medical assisting profession.

Understand the continuing education and recertification requirements for various medical assistant certifications.

Comprehend the roles and responsibilities associated with different levels and types of medical assisting duties.

Recognize the importance of scope of practice and its determination factors for medical assistants.

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Definitions:

Equally Likely

A situation in probability theory where all outcomes are considered to have the same chance of occurring.

Store Clerk

An individual employed in a store to assist with sales and customer service, often responsible for the checkout process, stocking, and other day-to-day tasks.

Age at Retirement

The age at which an individual chooses to leave their long-term employment, transitioning from full-time work to retirement.

Joint Frequency Distribution

A statistical measure showing the frequency of two variables occurring simultaneously.