Suppose Katie, Kendra, and Kristen Each Purchase a Particular Type

question 7

Multiple Choice

Suppose Katie, Kendra, and Kristen each purchase a particular type of cell phone at a price of $80. Katie's willingness to pay was $100, Kendra's willingness to pay was $95, and Kristen's willingness to pay was $80. Consumer surplus for the three individuals is

• A) $15.
• B) $20.
• C) $35.
• D) $80.