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Melissa buys an iPhone for $240 and gets consumer surplus of $160. What is her willingness...

  1. Melissa buys an iPhone for $240 and gets consumer surplus of $160.
    1. What is her willingness to pay?
    2. If she had bought the iPhone on sale for $180, what would her consumer surplus have been?
    3. If the price of an iPhone were $500, what would her consumer surplus have been?

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