-The figure above shows the demand curve for pizza.
a.What is the marginal benefit of the 20th pizza?
b.What is the maximum price the consumer is willing to pay for the 20th pizza?
c.If the price of a pizza is $6,what is the consumer surplus of the 20th pizza?
d. If the price of a pizza is $10,what is the consumer surplus on all the pizzas consumed?
e.If the price of a pizza is $6,what is the consumer surplus on all the pizzas consumed?
Definitions:
ROI
Return on Investment (ROI) measures the gain or loss generated on an investment relative to the amount of money invested.
Ethical Guideline
A directive that outlines appropriate practices and behaviors to uphold ethical standards in professional or organizational activities.
Training Contract
A formal agreement between a trainee and an organization, outlining the terms and conditions of training, often used in professional fields.
Reflect on Weaknesses
The process of self-assessment to identify areas of improvement or gaps in knowledge and skills.
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