How many vases will be sold and what is the value of consumer surplus - ProProfs Discuss
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How many vases will be sold and what is the value of consumer surplus in this market? Suppose there are three identical vases available to be purchased. Buyer 1 is willing to pay $30 for one, buyer 2 is willing to pay $25 for one, and buyer 3 is willing to pay $20 for one. The price is $25.



A. One vase will be sold, and consumer surplus is $30
B. One vase will be sold, and consumer surplus is $5
C. Two vases will be sold, and consumer surplus is $5
D. Three vases will be sold, and consumer surplus is $0
E. Three vases will be sold, and consumer surplus is $80

This question is part of Microeconomics [Ch.
Asked by Emy_, Last updated: Jul 06, 2020

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Emy_

Emy_

Answered Oct 18, 2017

Two vases will be sold, and consumer surplus is $5
 

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