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Deciding how many cans to buy

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Reference no: EM131255543

Abraham drinks Mountain Dew. He can buy as many cans of Mountain Dew as he wishes at a price of $0.55 per can. On a particular day, he is willing to pay $0.95 for the first can, $0.80 for the second can, $0.60 for the third can, and $0.40 for the fourth can. Assume Abraham is rational in deciding how many cans to buy. His consumer surplus is

a. $0.50.

b. $0.70.

c. $0.60.

d. $1.00.

Reference no: EM131255543

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