-The above figure shows an individual's demand curve for time per month spent telecommunicating while driving (talking on the car phone. )A car phone is useless except for talking with somebody who is not in the car.If calls are priced at ten cents per minute,what is the consumer surplus derived from talking? What is the most this person would pay for the car phone? Explain.
Definitions:
Negotiate
To engage in discussions aimed at reaching an agreement, especially in the context of contracts, prices, or terms of an arrangement.
Forged Instrument
A document that has been illegally altered or fabricated to deceive and is used in the commission of fraud, such as a counterfeit check.
Transfer Warranty
A legal guarantee assumed by a person who transfers a negotiable instrument, asserting that certain conditions about the instrument are met.
Authentic
Genuine or verified to be original and not a copy or fake.
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