QUESTION 11

1. Six consumers have the following willingness to pay for a DUKE-NCSU basketball game:

Ken Jeong: $200, Adam Silver: $185, Tim Cook: $182, Zach Galifanakis: $175, Michael Jordan: $170, Kyrie Irving: $160.

What is the total consumer surplus if price of a ticket is $175? How many people would purchase the ticket?

	A.	$42, 3 people
	B.	$42, 4 people
	C.	$35, 4 people
	D.	$35, 3 people

QUESTION 12

1. Using the information from question (1), suppose the price now falls to $150.How much is the change in total consumer surplus due to an increase of existing participants' consumer surplus?

	A.	$100
	B.	$75
	C.	$30
	D.	$140

QUESTION 13

1. In terms of surplus, which of the following is false?

		CS + PS = TS
		TS - PS = CS
		If CS = 0, TS = PS
		If PS = 0, CS = PS

QUESTION 14

1. What is the total consumer surplus if P =$40?