Table 7-6 For Each of Three Potential Buyers of Apples, the Table

question 43

Multiple Choice

Table 7-6
For each of three potential buyers of apples, the table displays the willingness to pay for the first three apples of the day. Assume Xavier, Yadier, and Zavi are the only three buyers of apples, and only three apples can be supplied per day.
-Refer to Table 7-6. If the market price of an apple is $1.40, then consumer surplus amounts to

• A)$0.60.
• B)$1.20.
• C)$1.40.
• D)$3.40

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Definitions:

Market Orientation

A business approach or philosophy that focuses on identifying and meeting the stated or hidden needs or wants of customers.

Principal Competitors

The main companies or businesses that compete in the same market or industry.

Target Customer Segment

A distinct segment of the marketplace that a corporation directs its offerings towards.

Profit To Distributors

The financial gain that distributors achieve from selling products after accounting for their cost of goods sold and operating expenses.