John Has a Marginal Benefit of $7 for 1 Slice

question 75

Multiple Choice

John has a marginal benefit of $7 for 1 slice of pizza,$5 for a second slice,$3 for a third slice,$1 for a fourth slice,and $0.50 for a fifth slice.The price of pizza is $1.50 per slice.Which of the following statements is correct?

• A) John will purchase 3 slices of pizza and have consumer surplus of $10.50.
• B) John will purchase 4 slices of pizza and have consumer surplus of $12.00.
• C) John will purchase 2 slices of pizza and have consumer surplus of $1.50.
• D) John will purchase 3 slices of pizza and have consumer surplus of $4.50.
• E) John will purchase 2 slices of pizza and have consumer surplus of $3.00.

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Definitions:

Number of Victimizations

A statistical measure that indicates the count of instances in which individuals or entities have suffered from criminal acts or harm.

Slope

The rate of change or gradient of a line on a graph, representing the relationship between two variables in linear regression analysis.

Regression Equation

A formula that describes the relationship between one dependent variable and one or more independent variables, used to predict the value of the dependent variable.

Perceptions of Police

Refer to individuals' beliefs, attitudes, and opinions about the police force and their operations within the community.