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:

Responses

The reactions or replies to stimuli, questions, or situations.

Prevention

Actions or strategies aimed at stopping problems or issues from occurring or worsening.

Stress

The physical or emotional strain resulting from demanding circumstances or challenging situations.

Excitement

A feeling of enthusiasm or heightened emotion, often brought about by something new or stimulating.