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

question 395

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 Allison, Bob, and Charisse 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 increases from $0.80 to $1.05, then consumer surplus

• A)increases by $0.75.
• B)decreases by $0.95.
• C)decreases by $0.75.
• D)decreases by $1.00.

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Definitions:

Emotional Loneliness

A state of feeling isolated and disconnected from others, lacking intimacy or deep, emotional connections.

Social Loneliness

The feeling of not having enough social contacts or relationships, or of being disconnected from others.

Social Deprivation

A condition resulting from a lack of social contact, interaction, and relationships with others, which can lead to negative psychological and emotional effects.

Optimal Distinctiveness Theory

A theory suggesting individuals strive to balance their need for inclusion within groups with their need to feel uniquely recognized as individuals.