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Dave's Consumer Surplus on Movie Rentals per Week Number of movies rented per week Amount Dave is willing to pay to rent this movie ($)
Dave's Consumer Surplus on Movie Rentals per Week
Number of movies rented per week | Amount Dave is willing to pay to rent this movie ($) | Dave's consumer surplus on each movie rental if price is $5 each |
1st | 10.00 | |
2nd | 8.00 | |
3rd | 6.50 | |
4th | 5.50 | |
5th | 5.00 | |
6th | 4.50 | |
7th | 4.25 |
If Dave rents 3 movies in one week, his total consumer surplus is _____ and the total amount he pays is _____.
a.$19.50; $15.00
b.$9.50; $15.00
c.$6.50; $5.00
d.$24.50; $24.50
e.$5.50; $5.00
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