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Melissa buys an iPod for $100 and gets a consumer surplus of $70. a. What is her willingness to pay? b. If she had bought
- Melissa buys an iPod for $100 and gets a consumer surplus of $70.
- a. What is her willingness to pay?
- b. If she had bought the iPod on sale for $80, what would her consumer surplus have been?
- c. If the price of an iPod were $350, what would her consumer surplus have been?
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Principles of economics
Authors: N. Gregory Mankiw
6th Edition
978-0538453059, 9781435462120, 538453052, 1435462122, 978-0538453042
