Question
show all the steps one by one: Raj loves burgers, but eventually tires of them. Raj's willingness to pay for each additional burger per week
show all the steps one by one:
Raj loves burgers, but eventually tires of them. Raj's willingness to pay for each additional burger per week in illustrated in the table below:
- If Raj eats five burgers per week, what is the total value he places on his weekly burgers?
- If the market price of a burger is $6, how many burgers will Raj buy and eat in one week?
- If the market price of a burger is $6, what is weekly consumer surplus Raj gets from eating burgers?
Burgers | Raj's willingness to pay |
First | $15 |
Second | $13 |
Third | $10 |
Fourth | $7 |
Fifth | $5 |
Sixth | $2 |
Seventh | $0 |
Correctly calculates the total value Raj places on his weekly burgers.
Correctly calculates how many burgers Raj buys and eats in one week if the market price of a burger is $6.
Correctly calculates the weekly consumer surplus that Raj gets from eating burgers if the market price of a burger is $6.
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