Lanlan buys an iPhone for $240 and gets consumer surplus of 160. a What is her willingness

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Lanlan buys an iPhone for $240 and gets consumer surplus of 160.

a What is her willingness to pay?

b If she had bought the iPhone on sale for $180, what would her consumer surplus have been?

c If the price of an iPhone were $500, what would her consumer surplus have been?

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Advanced Macroeconomics

ISBN: 9780415205504

3rd Edition

Authors: David Romer

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Question Posted: Nov 14, 2024 03:02 AM

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Lanlan buys an iPhone for $240 and gets consumer surplus of 160. a What is her willingness

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Advanced Macroeconomics

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