Melissa buys an iPhone for $120 and gets consumer surplus
Chapter , Problem 1(choose chapter or problem)
Melissa buys an iPhone for $120 and gets consumer surplus of $80.a.What is her willingness to pay?b.If she had bought the iPhone on sale for $90, what would her consumer surplus have been?c.If the price of an iPhone were $250, what would her consumer surplus have been?
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