객관식
Use the graph for funky-fresh rhymes above. If price increases from \$3,000 to \$5,000 per funky-fresh rhyme, what is the change to consumer surplus?
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5. Consumer and Producer Surplus; Price Ceilings and Price Floors
WIllingness to Pay and Consumer Surplus
객관식
DJ Starwave is preparing to produce her next chart-topping single. She knows she is willing to pay up to \(3,000 for each lyrical line, and she needs a total of 10 lyrical lines to finish the track. After gathering several freelance lyricists, she creates the following schedule:
If DJ Starwave values all lyrical lines equally at \)3,000 each, what is her maximum consumer surplus?
A
\$6,000
B
\$12,000
C
\$24,000
D
\$30,000
검증된 단계별 안내1
Identify the maximum price Kanye is willing to pay for each rhyme, which is \$3,000.
Determine the quantity of rhymes Kanye needs, which is 10 rhymes.
Calculate the total amount Kanye is willing to pay for 10 rhymes by multiplying the maximum price per rhyme (\$3,000) by the quantity of rhymes (10).
Calculate the total cost of purchasing 10 rhymes from the ghostwriters by selecting the cheapest options available. Start with the lowest price per rhyme and accumulate until reaching 10 rhymes.
Subtract the total cost of purchasing the rhymes from the total amount Kanye is willing to pay to find the consumer surplus.
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