Business, 16.11.2019 05:31 lillianfrederi

Amarket has four individuals, each considering buying a grill for his backyard. further assume that grills come in only one size and model. abe considers himself a grill-master, and finds a grill a necessity, so he is willing to pay $400 for a grill. butch is a meat-lover, honing his grilling skills, and is willing to pay $350 for a grill. collin just met the girl of his dreams, and she loves a good grilled steak, so in his effort to impress her he is willing to pay $320 for a grill. daniel loves grilled shrimp and thinks it might be cheaper in the long run if he buys a grill instead of eating out every time he wants grilled shrimp, so he is willing to pay $200 for a grill. if the market price of grills is $300, given the scenario described, the total consumer surplus would be: none of these is true. $1, 070. $170. $200.

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Amarket has four individuals, each considering buying a grill for his backyard. further assume that...

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