Whats the lowest of the offers listed in the prior table

Reference no: EM133711962

Question: First, compute the consumer surplus Crystal gets from buying the burger for $1.00, refusing Brian's offers, and eating the burger. Enter these amounts in the second column of the following table. Next, compute the consumer surplus she gets from buying the first burger at $1.00, selling it to Brian at each price listed, purchasing another burger for $1.00, and consuming it. Enter these amounts in the third column of the table. Again, assume that Crystal's cost of waiting in line for a burger is zero. Note: If Crystal is willing to sell her burger to Brian while at the Wendy's restaurant, she would purchase another burger immediately, since the value of the burger ($3.00) remains higher than the price of the burger ($1.00). Crystal's Consumer Surplus from . . . Purchasing and Consuming Immediately Purchasing, Selling, Purchasing Again, Then Consuming Offer Price from Friend (Dollars) (Dollars) $1.50 $2.00 $2.50 Assuming her cost of waiting in line is zero, what's the lowest of the offers listed in the prior table that Crystal would accept in exchange for her burger?

Reference no: EM133711962

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