Homework: L4. Economic Efficiency, Price Controls & Taxes Save Score: 0 of 1 pt

Question

Homework: L4. Economic Efficiency, Price Controls & Taxes Save Score: 0 of 1 pt End of Chapter 1.7 Consider the information given in the table on four consumers in the market for premium bottled water. 1 of 32 (18 complete) HW Score: 46 88%, 15 of 32 pts E Question Help Highest Price Willing to Pay Consumer $4 Jill Jose Josh Jordan f the price of a bottle of premium bottled water is $1.50, the total consumer surplus received by these consumers is (Enter your response rounded to two decimal places)

Explanation / Answer

Solution: $4.50

Working:

A A-1.50 Jill 4 2.5 Jose 3 1.5 Jjosh 2 0.5 Jordan 1 4.5

Related Questions

Navigate

• Browse (All)
• Browse H
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.