Table 7-3 For Each of Three Potential Buyers of Oranges, the Table

question 224

Multiple Choice

Table 7-3
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 7-3.If the market price of an orange increases from $0.60 to $1.05,total consumer surplus

• A)increases by $2.90.
• B)decreases by $2.25.
• C)decreases by $2.70.
• D)decreases by $3.85.

---

Definitions:

Strategic Plans

Formalized plans developed by organizations to outline their long-term goals and the strategies they will use to achieve them, guiding decision-making and resource allocation.

Strategic Plans

Long-term roadmaps designed by organizations to guide their overall efforts and achieve specific goals and objectives.

Operational Plans

Strategic blueprints that outline detailed actions and resources required to accomplish short-term objectives aligned with an organization's goals.

Time Management

The process of planning and controlling how much time to spend on specific activities, aiming to increase efficiency or productivity.