2) In a market for good Q, Mary, Juan, Felix, Joe and Harriet have a maximum willingness to pay of $9, 12, 7, 14 and 18, respectively, for 1 unit of Q. If the price of Q is $9.50, then quantity demanded is units, and the resulting consumer surplus is

2) In a market for good Q, Mary, Juan, Felix, Joe and Harriet have a maximum willingness to pay of $9, 12, 7, 14 and 18, respectively, for 1 unit of Q. If the price of Q is $9.50, then quantity demanded is units, and the resulting consumer surplus is

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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2) In a market for good Q, Mary, Juan, Felix, Joe and Harriet have a maximum willingness
to pay of $9, 12, 7, 14 and 18, respectively, for 1 unit of Q. If the price of Q is $9.50,
then quantity demanded is units, and the resulting consumer surplus is

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