1. Consumer Surplus Suppose a consumer would be willing to pay $6 for the first cup of coffee of the day, $5 for the second cup, $4 for the third cup…

1.     Consumer Surplus

Suppose a consumer would be willing to pay $6 for the first cup of coffee of the day, $5 for the second cup, $4 for the third cup and $3 for the fourth cup, $2 for the fifth cup…

If the price of a cup of coffee is $3 per cup, how many cups will the consumer buy in a day? ___________________

On the first cup, this consumer earns $3 in “surplus” because she is willing to pay $6 but only pay $3 for the cup

What surplus is earned on the 2nd cup?________________

…the third cup? ___________________

…the fourth cup? __________________

Given that cups are only being consumed in who # units, what is the total surplus this consumer earns on her purchase of 4 cups of coffee per day? ___________________ 

Show more

Calculate Your Essay Price
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
The price is based on these factors:
Academic level
Number of pages
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more

Order your essay today and save 10% with the coupon code: best10