Ask Question
28 February, 00:52

Suppose that a consumer's total benefit is $4 for consuming one cup of ice cream and $7 for consuming two cups of ice cream. the consumer's willingness to pay for the second cup of ice cream is

+5
Answers (1)
  1. 28 February, 00:55
    0
    Consumers total benefit for consume one cup = $4

    and $7 for second cup of ice cream

    how much consumer will pay for second cup = ? = x

    x = consumer money for second cup - consumer money for first cup

    x = $7 - $4

    x = $3

    so, consumer's willingness to pay for the second cup of ice cream is $3.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Suppose that a consumer's total benefit is $4 for consuming one cup of ice cream and $7 for consuming two cups of ice cream. the consumer's ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers