1. There is a dollar sale on neckties. You buy 10. Estimate your consumer surplus if you would have...

Question

1. There is a dollar sale on neckties. You buy 10. Estimate your consumer surplus if you would have been willing to pay $10 for the first tie, $9 for the second, $8 for the third, and so forth.

2. Kirsten pays $2 for a bottle of water. Explain how it’s possible for her to be enjoying a consumer surplus.

David · Accepted Answer

1.There is a dollar sale on neckties. You buy 10. Estimate your consumer surplus if you would have been 
willing to pay $10 for the first tie, $9 for the second, $8 for the third, and so forth.
Answer:

1. There is a dollar sale on neckties. You buy 10. Estimate your consumer surplus if you would have been willing to pay $10 for the first tie, $9 for the second, $8 for the third, and so forth. 2....

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