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1. Suppose four people are each interested in buying a mango smoothie. Consumer Willingness to pay Mark $7 Mary $6 Mike $5 Mitch $4 a.
1. Suppose four people are each interested in buying a mango smoothie. Consumer Willingness to pay Mark $7 Mary $6 Mike $5 Mitch $4 a. If the price of the mango smoothie is $4.5: What is the consumer surplus of each of the people? What is the total consumer surplus in this market b. If the price of the mango smoothie drops to is $3.5: What is the consumer surplus of each of the people? What is the total consumer surplus in this market
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