Bob Is Willing to Pay $65 for a New Pair

question 26

Multiple Choice

Bob is willing to pay $65 for a new pair of shoes.Bill is willing to pay $50 for the same shoes.The shoes have a price of $45.What is the total consumer surplus for Bob and Bill?

• A) $15
• B) $20
• C) $5
• D) $25
• E) $35

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Definitions:

Large Army

A significantly sized military force, typically referring to the land-based military branch of a nation, capable of conducting major operations and engaging in warfare.

Military Leader

A person who commands and manages armed forces, making strategic and tactical decisions to achieve military objectives, often requiring skills in leadership, strategy, and operational planning.

Civil Code of 1804

Also known as the Napoleonic Code, it was a comprehensive set of laws introduced by Napoleon Bonaparte to France that influenced legal systems worldwide.