Table 4-F
the Schedule Below Represents the Willingness of a Typical

question 160

Multiple Choice

Table 4-F
The schedule below represents the willingness of a typical consumer to pay for wine in a year. Suppose there are 10,000 identical consumers in the community.
$$\begin{array} { c c } \text { Price Per } & \text { bottles of Wine Consumed } \\\text { Bottle of Wine } & \text { Per Year } \\\$ 50 & 1 \\440 & 2 \\\$ 30 & 3 \\\$ 20 & 4 \\\$ 10 & 5\end{array}$$
-Refer to Table 4-F.If the market price of wine is $20, the total consumer surplus for the community equals:

• A)$20,000.
• B)$30,000.
• C)$50,000.
• D)$60,000.
• E)$80,000.

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Definitions:

60-Day Note

A financial instrument that is payable within 60 days, often used in business transactions as a form of short-term borrowing.

Intermediate Calculations

Calculations performed as steps toward solving a final problem or arriving at a final figure, often used in mathematical or financial analyses.

Maturity Date

The specified date on a financial instrument at which the principal (or final payment) is due to be paid.

Promissory Note

A financial document in which one party promises in writing to pay a determinate sum of money to another party under specific terms.