Table 7-1
-Refer to Table 7-1. If the market price is $105,
A)Calvin's consumer surplus is $45 and total consumer surplus is $85.
B)Sam's consumer surplus is $30 and total consumer surplus is $90.
C)Andrew's consumer surplus is $15 and total consumer surplus is $67.50.
D)Lori's consumer surplus is -$2 and total consumer surplus is $100.

Question

Table 7-1 
-Refer to Table 7-1. If the market price is $105,
A)Calvin's consumer surplus is $45 and total consumer surplus is $85. 
B)Sam's consumer surplus is $30 and total consumer surplus is $90. 
C)Andrew's consumer surplus is $15 and total consumer surplus is $67.50. 
D)Lori's consumer surplus is -$2 and total consumer surplus is $100.

Quizplus · Accepted Answer

At a market price of $105, Sam's consumer surplus would be $30 and the total consumer surplus would be the sum of all four individuals' consumer surplus, which is $90 ($30 + $25 + $20 + $15). None of the other options are correct based on the information provided in the table.

Table 7-1 -Refer to Table 7-1. If the Market Price Is $105