Table 7-5
For each of three potential buyers of oranges, the table displays the willingness to pay for the first three oranges of the day. Assume Allison, Bob, and Charisse are the only three buyers of oranges, and only three oranges can be supplied per day.
-Refer to Table 7-5. If the market price of an orange is $0.40, then
A)6 oranges are demanded per day, and consumer surplus amounts to $4.95.
B)6 oranges are demanded per day, and consumer surplus amounts to $5.10.
C)7 oranges are demanded per day, and consumer surplus amounts to $5.30.
D)7 oranges are demanded per day, and consumer surplus amounts to $5.15.

Question

Table 7-5
For each of three potential buyers of oranges, the table displays the willingness to pay for the first three oranges of the day. Assume Allison, Bob, and Charisse are the only three buyers of oranges, and only three oranges can be supplied per day. 
-Refer to Table 7-5. If the market price of an orange is $0.40, then
A)6 oranges are demanded per day, and consumer surplus amounts to $4.95. 
B)6 oranges are demanded per day, and consumer surplus amounts to $5.10. 
C)7 oranges are demanded per day, and consumer surplus amounts to $5.30. 
D)7 oranges are demanded per day, and consumer surplus amounts to $5.15.

Quizplus · Accepted Answer

The Answer of Table 7-5
For each of three potential buyers of oranges, the table displays the willingness to pay for the first three oranges of the day. Assume Allison, Bob, and Charisse are the only three buyers of oranges, and only three oranges can be supplied per day. 
-Refer to Table 7-5. If the market price of an orange is $0.40, then
A)6 oranges are demanded per day, and consumer surplus amounts to $4.95. 
B)6 oranges are demanded per day, and consumer surplus amounts to $5.10. 
C)7 oranges are demanded per day, and consumer surplus amounts to $5.30. 
D)7 oranges are demanded per day, and consumer surplus amounts to $5.15.

Table 7-5 For Each of Three Potential Buyers of Oranges, the Table