Based on the Table Below, What Is the Consumer Surplus

question 114

Multiple Choice

Based on the table below, what is the consumer surplus of the 2^nd unit consumed assuming this market reaches equilibrium? $\begin{array}{lcc}\underline{\text { Price } }&\underline{ \text { Quantity Demanded }} & \underline{\text { Quantity Supplied }} \\\$ 1.00 & 7 & 1 \\\$ 2.00 & 6 & 2 \\\$ 3.00 & 5 & 3 \\\$ 4.00 & 4 & 4 \\\$ 5.00 & 3 & 5 \\\$6.00 & 2 & 6 \\\$ 7.00 & 1 & 7\end{array}$

• A)$1.00
• B)$2.00
• C)$3.00
• D)$7.00
• E)$10.00

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Definitions:

Pockets of Expertise

Specific areas within an organization or field where concentrated expertise exists, often specialized and highly valued.

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Target Markets

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