How much consumer surplus will she enjoy

Assignment Help Microeconomics
Reference no: EM131480750

Question: A college student enjoys eating pizza. Her willingness to pay for each slice is shown in the following table:

2479_Pizza.png

a. If pizza slices cost $3 each, how many slices will she buy? How much consumer surplus will she enjoy?

b. If the price of slices falls to $2, how much consumer surplus will she enjoy?

Reference no: EM131480750

Questions Cloud

Case study on yellow cab company : You need to prepare 4000 words case study on yellow cab company brisbane - what the future of company(how they can give tough competition to UBER)
How does a kanban system overcome the disadvantage : How does a Kanban system overcome this disadvantage? How exactly does a Kanban system of visual scheduling work?
Necessary for your own computer work and creativity : 1. Do you think a physical keyboard is necessary for your own computer work and creativity? What kinds of evidence would help to support your opinion?
The earth were not revolving around the sun : If the earth were not revolving around the Sun would the earth fall into the sun? Why?
How much consumer surplus will she enjoy : A college student enjoys eating pizza. Her willingness to pay for each slice is shown in the following table.
Relationship and distinctions between morality and ethics : In readings and class discussions, we have talked about the relationship and distinctions between morality and ethics. Morality deals with basic principles.
Which one theory closest to your own view of human nature : Why do you think that philosophers are fascinated with the question of what human nature is?
Draw a logic symbol diagram : Draw a logic symbol diagram of a 5-bit serial-load shift-right register. Use five D flip-flops. Label inputs data, CLK, and CLR.
Analyze in detail the current hr practice and policy : Analyze in detail the current HR practice, policy, process, or procedure that you believe should be changed. Evaluate an organization's readiness for change.

Reviews

Write a Review

Microeconomics Questions & Answers

  The free rider problem

Question: Explain why the free rider problem makes it difficult for perfectly competitive markets to provide the Pareto efficient level of a public good.

  Failure of the super committee is good thing for economy

Some commentators have argued that the failure of the “Super committee” is good thing for the economy?  Do you agree?

  Case study analysis about optimum resource allocation

Case study analysis about optimum resource allocation: -  Why might you suspect (even without evidence) that the economy might not be able to produce all the schools and clinics the Ministers want? What constraints are there on an economy's productio..

  Fixed cost and vairiable cost

Questions:  :   Which of the following are likely to be fixed costs and which variable costs for a chocolate factory over the course of a month?  Explain your choice.

  Problem - total cost, average cost, marginal cost

Problem - Total Cost, Average Cost, Marginal Cost: -  Complete the following table of costs for a firm.  (Note: enter the figures in the  MC   column  between  outputs of  0 and 1, 1 and 2, 2 and 3, etc.)

  Oligopoly and demand curve problem

Problem based on Oligopoly and demand curve,  Draw and explain the demand curve facing each firm, and given this demand curve, does this mean that firms in the jeans industry do or do not compete against one another?

  Impact of external costs on resource allocation

Explain the impact of external costs and external benefits on resource allocation;  Why are public goods not produced in sufficient quantities by private markets?  Which of the following are examples of public goods (or services)? Delete the incorrec..

  Shifts in demand and movements along the demand curve

Describe the differences between shifts in demand and movements along the demand curve. What are the main factors which can shift the demand curve? Explain why they cause the demand curve to shift. Use examples and draw graphs to support your discuss..

  Article review question

Article Review Question: Read the following excerpts from the article "Fruit, veg costs surge' by Todd, Dagwell, published in the Herald on January 25th 2011 and answer questions below:

  Long-term growth, international trade & globalization

Long-term Growth, International Trade & Globalization:- This question deals with concepts such as long-term growth, international trade and globalization. Questions related to trade deficit, trade surplus, gains from trade, an international trade sce..

  European monetary union (emu) in crisis

"Does the economic bailout of Spain and Greece spell the beginning of the end for the European Monetary Union (EMU)?"

  Development game “settlers of catan”

Read the rules of the game, the overview and the almanac for the Development Game "Settlers of Catan"

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd