Using the table, what is Ross's total willingness to pay for three records? a. $45 b. $30

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Using the table, what is Ross's total willingness to pay for three records?

a. $45

b. $30

c. $110

d. $5

e. Not enough information, since the price of a record is not given

Quantity 1 2 3 4 5 Marginal Benefit ($) 45 35 30 27 25

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Introduction To Economics Social Issues And Economic Thinking

ISBN: 9780470574782

1st Edition

Authors: Wendy A. Stock

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Question Posted: Oct 27, 2023 11:38 PM

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Using the table, what is Ross's total willingness to pay for three records? a. $45 b. $30

Question:

Quantity 1 2 3 4 5 Marginal Benefit ($) 45 35 30 27 25

Step by Step Answer:

To find Rosss total willingness to pay for three records you need to sum up the marginal benefit f...View the full answer

Introduction To Economics Social Issues And Economic Thinking

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