Table 7-2 This Table Refers to Five Possible Buyers' Willingness to Pay

question 35

Multiple Choice

Table 7-2
This table refers to five possible buyers' willingness to pay for a case of Vanilla Coke.
-Refer to Table 7-2. If the market price is $3.80,

• A)David's consumer surplus is $4.70 and total consumer surplus for the five individuals is $9.50.
• B)Megan's consumer surplus is $1.70 and total consumer surplus for the five individuals is $9.80.
• C)David, Laura, and Megan will be the only buyers of Vanilla Coke.
• D)the demand curve for Vanilla Coke, taking the five individuals into account, is horizontal.

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Definitions:

Tributaries

Smaller rivers or streams that flow into a larger river or lake, contributing to its overall water volume.

Sediment

Particulate organic and inorganic material that settles at the bottom of a liquid, often transported by water, wind, or ice.

Discharge

The flow rate of water from a given source, such as a river or aquifer, typically measured in volume per unit time.

Low-Gradient Stream

A stream with a gentle slope that typically has slower water velocity and can form wide meanders, floodplains, and deposits of sediments along its course.