1. Melissa buys an iPod for $120 and gets consumer surplus of $80. a. What is her...

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1. Melissa buys an iPod for $120 and gets consumer surplus of $80.

a. What is her willingness to pay?

b. If she had bought the iPod on sale for $90, what would her consumer surplus have been?

c. If the price of an iPod were $250, what would her consumer surplus have been? P=-5

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Essentials Of Economics

ISBN: 9780324590029

5th Edition

Authors: N. Gregory Mankiw

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Question Posted: Nov 04, 2024 10:00 AM

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1. Melissa buys an iPod for $120 and gets consumer surplus of $80. a. What is her...

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