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# A college student enjoys drinking hand-crafted ginger beer Her willingness to pay for each bottle is shown in the following table Number of bottles Willingness to pay

### A college student enjoys drinking hand-crafted ginger beer Her willingness to pay for each bottle is shown in the following table Number of bottles Willingness to pay

A college student enjoys drinking hand-crafted ginger beer Her willingness to pay for each bottle is shown in the following table

Number of bottles Willingness to pay (per bottle)

1 \$5

2 \$4

3 \$3

4 \$2

5 \$1

6 \$0

1

If a bottle of hand-crafted ginger beer costs \$4, how many bottles will the student buy?

~~~ bottles of hand-crafted ginger beer

How much consumer surplus will she enjoy? Assume that the student will purchase bottles up to, but not including, the point at which she incurs a loss of consumer surplus

~~\$ in consumer surplus

2

If the price of a bottle falls to \$3, how many bottles of hand-crafted ginger beer will she buy?

~~~ bottles of hand-crafted ginger beer

How much consumer surplus will she enjoy? Assume that the student will purchase bottles up to, but not including, the point at which she incurs a loss of consumer surplus

~~\$ in consumer surplus

mahesh 09-Aug-2020