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5 of 6 This Quiz: 6 pts possible Kat is willing to pay $900 for 25 bottles of grape wine. The market price of 15

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5 of 6 This Quiz: 6 pts possible Kat is willing to pay $900 for 25 bottles of grape wine. The market price of 15 bottles of grape wine is $390. Because of an increase in the price of grapes, the price of grape wine increases to $450 for 15 bottles. Kat's consumer surplus has decreased by $ 40 because of an increase in the price of grapes. (Enter your response as a whole number.) A consumer has the following demand schedule for a grape wine bottle. Each bottle's price is the same as the marginal benefit. Quantity Price Demanded ($) 200 170 150 Suppose the market price of a grape wine bottle is $160 per unit. Calculate the consumer surplus and the consumer's total benefit. Consumer surplus is $ , and the consumer's total benefit is $ (Enter your responses as whole numbers.) Enter your answer in each of the answer boxes ? Save for Later 04/05/20 O ASSESS Chapter 6 Homework 11:55pm to search 9 DELL F9 F10 F11 F12 Prison Lock Pause Break Backspace Insert Home Page Lock 8 9 0 5 6 Delete End Page Down U Home R Enter G K Shift M End B N Ctr

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