The Following Table Shows the Marginal Benefit That Marcus Derives

question 15

Multiple Choice

The following table shows the marginal benefit that Marcus derives by consuming different quantities of hotdog and soda. The price of a hotdog is $3, and the price of a soda is $1.

-Refer to the table above.If Marcus consumes 2 hotdogs and 2 sodas,not necessarily his optimal choice,how much consumer surplus is he enjoying?

• A) $43
• B) $49
• C) $8
• D) $24

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Definitions:

Unemployment Figures

The statistics that represent the percentage of the labor force that is not employed but actively seeking employment.

Aggregate Demand

The sum of needs for all goods and services in an economy, measured at a collective price level within a set time interval.

Inflation

The velocity at which the universal price point for goods and services escalates, reducing the ability to make purchases.

Frictionally Unemployed

Individuals who are temporarily out of work while transitioning from one job to another.