Jane is willing to pay $9 for 1 steak per month, $8 for the 2nd, $7 for the 3rd, etc. The market price of steaks is $5. This same consumer is willing to pay $25 for 1 pizza per month, $20 for a 2nd, $15 for a 3rd, etc. The market price of pizzas is also $5.

a. Explain why the consumer will purchase the same number of steaks as pizzas, and spend the same total amount on each.

b. Does this equality of price and total expenditure mean that the consumer "values" steaks and pizzas equally? Explain clearly.

c. How much would this consumer be willing to pay, per month, for the right to purchase steaks at $3, rather than at the market price of $57