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. Which of the following statements is correct?
A)Neither Bob's consumer surplus nor Charisse's consumer surplus can exceed Allison's consumer surplus, for any price of an orange.
B)All three individuals will buy at least one orange only if the price of an orange is less than $0.25.
C)If the price of an orange is $0.60, then consumer surplus is $4.90.
D)All of the above are correct.

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. Which of the following statements is correct?
A)Neither Bob's consumer surplus nor Charisse's consumer surplus can exceed Allison's consumer surplus, for any price of an orange. 
B)All three individuals will buy at least one orange only if the price of an orange is less than $0.25. 
C)If the price of an orange is $0.60, then consumer surplus is $4.90. 
D)All of the above are correct.

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. Which of the following statements is correct?
A)Neither Bob's consumer surplus nor Charisse's consumer surplus can exceed Allison's consumer surplus, for any price of an orange. 
B)All three individuals will buy at least one orange only if the price of an orange is less than $0.25. 
C)If the price of an orange is $0.60, then consumer surplus is $4.90. 
D)All of the above are correct.

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