Mike Really Enjoys Bitter Sweet Coffee and Is Willing to Pay

question 43

Multiple Choice

Mike really enjoys Bitter Sweet coffee and is willing to pay $10 per cup. The retail price is $3. Which statement is correct?

• A) Mike's consumer surplus is $10 per cup.
• B) Mike has a consumer surplus of $7 per cup.
• C) The seller can raise the price to $13 and still make a sale to Mike.
• D) Mike is getting a poor deal on the coffee.

---

Definitions:

REM Sleep

A phase of sleep characterized by rapid eye movements, more vivid dreams, and increased brain activity.

Sleep Poorly

A condition characterized by difficulty falling asleep, frequent awakenings, or non-restorative sleep.

Sleeping Aid

Medications or natural remedies that are used to improve sleep quality or to alleviate difficulties falling asleep.

Rebound Insomnia

A condition where sleeping difficulties worsen after discontinuing sleep medications.