This Table Refers to Five Possible Buyers' Willingness to Pay

question 40

Multiple Choice

This table refers to five possible buyers' willingness to pay for a take-away meal.
$\begin{array}{l}\text { Buyer Willingness To }\\\begin{array} { l l } & \text { Pay } \\\text { David } & \text { R85.00 } \\\text { Laura } & \text { R70.00 } \\\text { Megan } & \text { R55.00 } \\\text { Mallory } & \text { R40.00 } \\\text { Audrey } & \text { R35.00 }\end{array}\end{array}$
-Refer to the table above. If the market price is R38.00,

• A) David's consumer surplus is R47.00 and total consumer surplus for the five individuals is R95.00.
• B) Megan's consumer surplus is R17.00 and total consumer surplus for the five individuals is R96.00.
• C) David, Laura, and Megan will be the only buyers of a take-away meal.
• D) The demand curve for the take-away meal, taking the five individuals into account, is horizontal.

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Definitions:

De Facto

Term describing practices or conditions that exist in reality, even if not legally recognized or formalized.

Authoritarian

A governing or leadership style characterized by strong central power and limited political freedoms, often involving obedience to authority without much personal freedom.

Disenfranchised

Stripped of voting rights, either temporarily or permanently.

Totalitarian Government

A form of government that seeks to control all aspects of public and private life, often through coercion and repression.