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

question 140

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,Kendras's willingness to pay was $95,and Kristen's willingness to pay was $80.Which of the following statements is correct?

• A)For the three individuals together, consumer surplus amounts to $35.
• B)Having bought the cell phone, Kristen is better off than she would have been had she not bought it.
• C)Had the price of the cell phone been $95 rather than $80, Katie and Kendra definitely would have been buyers and Kristen definitely would not have been a buyer.
• D)The fact that all three individuals paid $80 for the same type of cell phone indicates that each one placed the same value on that cell phone.

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Definitions:

Abyssal

Pertaining to the depths of the ocean, typically areas between 2,000 and 6,000 meters deep, characterized by cold temperatures and high pressure.

Mesopelagic

A layer of the ocean, also known as the twilight zone, that extends from 200 to 1000 meters below the surface, where only a small amount of light penetrates.

Phytoplankton

Microscopic plant-like organisms that float in fresh or salt water, form the base of aquatic food webs, and produce oxygen through photosynthesis.

Nutrient Supply

The availability of essential chemical elements or compounds required for the growth, reproduction, and maintenance of living organisms.