Kat is willing to pay $900 for 25 bottles of grape wine. The market price of...
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Kat is willing to pay $900 for 25 bottles of grape wine. The market price of 15 bottles of grape wine is $390. Because of an increase in the price of grapes, the price of grape wine increases to $450 for 15 bottles by $ because of an increase in the price of grapes. (Enter your response as a Kat's consumer surplus has whole number.) A consumer has the following demand schedule for a grape wine bottle. Each bottle's price is the same as the marginal benefit. Quantity Demanded Price ($) 1 100 2 85 3 75 Suppose the market price of a grape wine bottle is $80 per unit. Calculate the consumer surplus and the consumer's total benefit. Consumer surplus is $ and the consumer's total benefit is $ (Enter your responses as whole numbers.) Kat is willing to pay $900 for 25 bottles of grape wine. The market price of 15 bottles of grape wine is $390. Because of an increase in the price of grapes, the price of grape wine increases to $450 for 15 bottles by $ because of an increase in the price of grapes. (Enter your response as a Kat's consumer surplus has whole number.) A consumer has the following demand schedule for a grape wine bottle. Each bottle's price is the same as the marginal benefit. Quantity Demanded Price ($) 1 100 2 85 3 75 Suppose the market price of a grape wine bottle is $80 per unit. Calculate the consumer surplus and the consumer's total benefit. Consumer surplus is $ and the consumer's total benefit is $ (Enter your responses as whole numbers.)
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