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

question 14

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.Which of the following statements is correct?

• A) Neither Barb's consumer surplus nor Carlos's consumer surplus can exceed Alex's consumer surplus,for any price of an orange.
• B) All three individuals will buy at least one orange only if the price of an orange is less than $0.25.
• C) If the price of an orange is $0.60,total consumer surplus is $4.90.
• D) All of the above are correct.

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Definitions:

Physical Ailments

Medical conditions or diseases that affect the body's structure or function, often leading to discomfort or disability.

Late Adulthood

A life stage typically considered to begin around the age of 65, marked by physical, cognitive, and social changes.

Cancer

A group of diseases characterized by the uncontrolled growth and spread of abnormal cells in the body.

Rates

Measurements that denote the frequency or occurrence of an event, particularly per unit of time.