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Refer to Table 7-2. Which of the following is not true? At a price of $9.00, no buyer is willing to purchase Vanilla Coke. b. At a price of $5.50, Megan is indifferent between buying a case of Vanilla Coke and not buy one. C. At a price of $4.00, total consumer surplus in the market will be $9.00. All of the above are correct. d.

Sagot :

abiolataiwo2015

The statements that are true are: d. All options are correct.

a. Based on the table the highest willingness to pay  is $8.50 which therefore means that a a price of $9 is above each of  buyer's willingness to pay.

Hence, non of the buyer is willing to buy  Vanilla Coke.

b. Based on the information given in the table a price of $5.50 is the same  to Maria's willingness to pay of the price of $5.50 shown in the table .

Hence, At the  price of $5.50  Maria will be indifferent between purchasing and not purchasing Vanilla Coke.

c. At a price of $4, the total consumer surplus is:

Total consumer surplus=($8.50-$4.00)+($7.00-$4.00)+($5.50-$4.00)+($4.00-$4.00)+($3.50-$4.00)

Total consumer surplus=$4.50+$3.00+$1.50+$0+$0

Total consumer surplus=$9

Inconclusion The statements that are true : d. All options are correct.

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