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It is a hot day at the beach Ice water costs $1 per bottle and this is your only option Your marginal benefit for water follows the equation

It is a hot day at the beach. Ice water costs $1 per bottle and this is your only option. Your marginal benefit for water follows the equation MB = $10 - $x.

x is represents the number of bottles of ice water you have had. So, for example, the marginal benefit of the first bottle is $10 - $1 = $9. The MB of the 2nd bottle is $8 .. and so on.

Assuming you are an economically rational consumer how much consumer surplus will you achieve when you are done for the day?

Mar 27 2020 View more View Less

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