Table 4-D
Miles Demands Jazz CDs According to the Following

question 186

Multiple Choice

Table 4-D
Miles demands jazz CDs according to the following demand schedule:
$$\begin{array} { c c } \text { Price af jazz CDs } & \text { Qurantity of jazz CDs } \\\$ 30 & 1 \\\$ 25 & 2 \\\$ 20 & 3 \\\$ 15 & 4 \\\$ 10 & 5\end{array}$$
-Refer to Table 4-D.If the price of jazz CDs equals $15, the consumer surplus Miles receives from purchasing jazz CDs is:

• A)$15.
• B)$25.
• C)$30.
• D)$55.
• E)$90.

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Definitions:

Cash Reserves

Funds that a company or individual keeps on hand to meet short-term and emergency funding needs.

Inventory Turnover

A calculation representing the turnover rate of a company's stock, showing how often it's sold and replaced within a given period.

Current Ratio

A liquidity measure that evaluates a company's ability to pay short-term obligations or those due within one year, calculated by dividing current assets by current liabilities.

Fixed Asset Turnover

A financial ratio that measures a company’s ability to generate sales from its fixed-asset investments - such as property, plant, and equipment.