Question
The next table shows the marginal value of beer for individual A. The values are measured in dollars. Quantity of Beer Marginal Value of Beer
The next table shows the marginal value of beer for individual A. The values are measured in dollars.
Quantity of Beer | Marginal Value of Beer in $ |
1 | 5 |
2 | 4 |
3 | 3 |
4 | 2 |
5 | 1 |
6 | 0 |
7 | 0 |
8 | 0 |
9 | 0 |
10 | 0 |
What is the marginal value of consuming the third beer?
Question 10 (1 point)
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What is the marginal value of consuming the third beer?
Question 10 options:
12 | |
7 | |
3 | |
none of these |
Question 11 (1 point)
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How much is individual A supposed to pay in total if she buys 4 beers at a unique (uniform) price?
Question 11 options:
$1 | |
$2 | |
$14 | |
none of these |
Question 12 (1 point)
What is the consumer surplus for individual A if she buys 2 beers with the price of $4 each?
Question 12 options:
$4 | |
$3 | |
$2 | |
$1 |
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