5. O Table 7-4 6. O 7. O For each of the three potential buyers of oranges, the table displays the willingness to pay for the first three oranges of the day. Assume Allison, Bob, and Charisse are the only three buyers of oranges, and only three oranges can be supplied per day. 8. O 9. O 10. O Willingness to Pay (Dollars) 11. O First Orange Second Orange Third Orange 12. O Allison 2.00 1.50 0.75 13. C Bob 1.50 1.00 0.60 Charisse 0.75 0.25 0.00 14. C 15. O Refer to Table 7-4. Which of the following statements is correct? 16. C O a. Neither Bob's consumer surplus nor Charisse's consumer surplus can exceed Allison's consumer surplus, for any price of an orange O b. If the price of an orange is $0.60, then consumer surplus is $4.90. 17. C O c. Charisse will always have the highest consumer surplus. 18. O O d. All three individuals will buy at least one orange only if the price of an orange is less than $0.25. 19. 0 20. 0 O- Icon Key