Suppose the Total Consumer Surplus Enjoyed by Eight People from Consuming

question 19

Multiple Choice

Suppose the total consumer surplus enjoyed by eight people from consuming one hamburger each was $9 + $8 + $7 + $7 + $7 + $6 + $6 + $5.If the price of hamburgers was $2 each,what was the total benefit enjoyed by these consumers?

• A)$39
• B)$45
• C)$55
• D)$71

---

Definitions:

Variable Costs

Expenses that change in proportion to the activity of a business, such as production volume or sales.

Market Value

The current price at which an asset or service can be bought or sold in a marketplace.

Book Value

The net value of a company's assets minus its liabilities, often used to determine the value of a company's shares.

Operating Assets

Resources employed in a business's regular activities for income generation, such as money, stock, and machinery.