Table 7-5 For Each of Three Potential Buyers of Oranges, the Table

question 273

Multiple Choice

Table 7-5
For each of three potential buyers of oranges, the table displays the willingness to pay for the first three oranges of the day. Assume Alex, Barb, and Carlos are the only three buyers of oranges, and only three oranges can be supplied per day.

-Refer to Table 7-5.If the market price of an orange is $0.40,then

• A) 6 oranges are demanded per day, and consumer surplus amounts to $4.45.
• B) 6 oranges are demanded per day, and consumer surplus amounts to $5.10.
• C) 7 oranges are demanded per day, and consumer surplus amounts to $5.35.
• D) 7 oranges are demanded per day, and consumer surplus amounts to $5.50.

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Definitions:

Freshwater Systems

Natural bodies of water that have low salt concentrations, such as rivers, lakes, streams, and underground aquifers, crucial for drinking water, agriculture, and habitats.

Nutrient Cycling

The movement and exchange of organic and inorganic matter back into the production of living matter, recycling elements and nutrients through the biosphere.

Hydroelectricity

The production of electricity using the energy generated from flowing or falling water, typically through dams.

Photosynthesis

The process by which green plants and some other organisms use sunlight to synthesize nutrients from carbon dioxide and water, releasing oxygen as a byproduct.