Table 7-5 For Each of Three Potential Buyers of Oranges, the Table

question 7

Multiple Choice

Table 7-5
For each of three potential buyers of oranges, the table displays the willingness to pay for the first three oranges of the day. Assume Alex, Barb, and Carlos are the only three buyers of oranges, and only three oranges can be supplied per day.

-Refer to Table 7-5.If the market price of an orange increases from $0.70 to $1.40,then consumer surplus

• A) increases by $2.50.
• B) decreases by $0.80.
• C) decreases by $2.60.
• D) decreases by $3.40.

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Definitions:

Primary Motivations

Primary motivations are the fundamental reasons or driving forces behind individuals' behaviors, actions, or pursuit of goals.

Consumer Segments

Portions of the market categorized by specific characteristics such as needs, demographics, or behaviors, allowing for targeted marketing strategies.

Abundant Resources

A situation where there is a surplus of resources available, exceeding the demand or need for them.

Innovators

are individuals or organizations that are first to develop or adopt new ideas, processes, or products, often leading the way for others in technology or industry trends.