Table 7-6
During the Last Two Days, Harry Purchased a Latte

question 81

Multiple Choice

Table 7-6
During the last two days, Harry purchased a latte from two different stores. The table below shows Harry's willingness to pay on each day and his consumer surplus from each purchase.
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$$\begin{array} { | c | c | c | } \hline & \begin{array} { c } \text { Harry's Willingness to Pay } \\\text { (Dollars) }\end{array} & \begin{array} { c } \text { Harry's Consumer Surplus } \\\text { (Dollars) }\end{array} \\\hline \text { First Day } & 5.50 & 2.00 \\\hline \text { Second Day } & 2.00 & 0.50 \\\hline\end{array}$$
-Refer to Table 7-6. The price that Harry paid for a latte on the first day is

• A)$3.5.
• B)$5.
• C)$0.
• D)$5.5.

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Definitions:

Occupational Data

Information related to job characteristics, employment trends, salary ranges, educational requirements, and growth projections for various professions.

Service Charge

A service charge is an additional fee collected for the provision of a service, often seen in hospitality, banking, and restaurants.

Interest

The fee paid for borrowing money, typically expressed as a percentage of the money borrowed, or curiosity and attention towards something.

Dividend

A portion of a company's earnings distributed to shareholders as determined by the board of directors.