Nick Can Purchase Each Milkshake for $2

question 431

Multiple Choice

Nick can purchase each milkshake for $2. For the first milkshake purchased Nick is willing to pay $4, for the second milkshake $3, for the third milkshake $2 and for the fourth milkshake $1. What is the value of Nick's consumer surplus for the milkshakes he buys?

• A) $2
• B) $9
• C) $3
• D) $10

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Definitions:

Purchasing Product

The act of acquiring goods or services by customers in exchange for money, reflecting consumer behavior and market demand.

Benefit

An advantage, improvement, or gain that is obtained from something.

Personality Characteristics

The distinctive traits and behaviors that make up an individual's character, influencing how they interact with the world and others.