Suppose that the price of a bottle of soda is $1 each. Larry is willingto pay $2 for the first bottle, Alan is willing to pay $1.50 for thesecond bottle, Ryan is willing to pay $1.25 for the third bottle, andHolly is willing to pay $0.75 for the fourth bottle. What is the totalconsumer surplus from the consumption of soda?
a. $6.50
b. $5.50
c. $2.75
d. $1.75
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Home » Business » Suppose that the price of a bottle of soda is $1 each. Larry is willingto pay $2 for the first bottle, Alan is willing to pay $1.50 for thesecond bottle, Ryan is willing to pay $1.25 for the third bottle, andHolly is willing to pay $0.