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.

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Definitions:

Double Billing

The unethical practice of charging more than once for the same service or work, often found in legal and medical billing.

Billable Time

The time that professionals, like lawyers or consultants, record for tasks they perform on behalf of their clients, which determines how much the client will be charged.

E-Mail Communication

The exchange of messages, documents, and information through electronic mail platforms.

Professional Tone

The formal or business-like style of communication used in the workplace or professional settings to convey respect and seriousness.