John Has a Marginal Benefit of $7 for 1 Slice

question 75

Multiple Choice

John has a marginal benefit of $7 for 1 slice of pizza,$5 for a second slice,$3 for a third slice,$1 for a fourth slice,and $0.50 for a fifth slice.The price of pizza is $1.50 per slice.Which of the following statements is correct?

• A) John will purchase 3 slices of pizza and have consumer surplus of $10.50.
• B) John will purchase 4 slices of pizza and have consumer surplus of $12.00.
• C) John will purchase 2 slices of pizza and have consumer surplus of $1.50.
• D) John will purchase 3 slices of pizza and have consumer surplus of $4.50.
• E) John will purchase 2 slices of pizza and have consumer surplus of $3.00.

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Definitions:

Character Count

The total number of characters in a piece of text, often used as a metric in writing, coding, or social media platforms.

Blog

A site or page on the web that receives periodic updates, operated by either a person or a small collective, known for its laid-back and conversational writing approach.

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A variation on a blog in which messages are restricted to specific character counts; Twitter is the best-known example.

Overwhelm

To overcome completely in mind or feeling, often causing a sense of inability to manage or cope.