Question
Melissa buys an iPhone for $240 and gets consumer surplus of $160. What is her willingness...
- Melissa buys an iPhone for $240 and gets consumer surplus of
$160.
- What is her willingness to pay?
- If she had bought the iPhone on sale for $180, what would her consumer surplus have been?
- If the price of an iPhone were $500, what would her consumer surplus have been?
Please show your answers clearly.
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