Table: Maximum Willingness to Pay

question 154

Multiple Choice

Table: Maximum Willingness to Pay
The table shows four individuals' maximum willingness to pay for one pound of bananas. If the market price of bananas is $0.50/lb, what is the total consumer surplus in the market?

• A) $4.00
• B) $2.50
• C) $2.75
• D) $4.25

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