--%>
Assignment Help - homework help

Maximum Consumer Surplus

Assume that you receive $18 worth of ‘jollies’ (that is, utility, satisfaction or pleasure) from the very first hole of golf played on a particular day, and that your extra jollies from succeeding the holes drops $1 for each and every hole played. You should pay $40 up front to get on the course however can then play as much holes as you like devoid of any additional charge. Measured in dollars worth of jollies and supposing that the value of a single ‘jolly’ is unchanged by how much or how little pleasure you have had, the maximum consumer surplus which you can produce from playing golf would be: (1) 171 jollies. (2) 180 jollies. (3) 144 jollies. (4) 131 jollies. (5) No jollies [zero].

Can someone please help me in finding out the accurate answer from the above options.

   Related Questions in Macroeconomics

  • Q : Principles of macroeconomics What are

    What are the “powers of the Federal Reserve

    		•
  • Q : Problem on law of diminishing marginal

    According to law of diminishing marginal utility, the longer that Lee and Chris kiss: (i) the less invested each will be in ongoing this relationship. (ii) The nearer they are to reaching their joined production possibilities frontier. (iii) The more

    		•
  • Q : In which of these two statements

    "In corn market, demand often exceeds supply and supply sometimes exceeds demand." "The price of corn rises and falls in response to changes in supply and demand."

    		•
  • Q : List Which of the following lists

    Which of the following lists includes only capital resources (and ther Which of the following lists includes only capital resources (and therefore no labor or land resources)?

    		•
  • Q : Price elasticity of demand for DVD games

    In this figure shown below, the price elasticity of demand for DVD games among prices of $30 and $40 is nearest to: (i) 7/6. (ii) 1/2. (iii) 3/7. (iv) 7/3. (v) 1/3.

    Q : Why tax considered as revenue receipt

    Why is tax considered as revenue receipt? Answer: Since tax neither makes a liability for government nor decreases assets of the government.

    		•
  • Q : Consequence of investment in economy

    When in an economy intended investment is more than intended savings, then what is the consequence of it on the national income? Answer: When I > S, the level of

    		•
  • Q : Microeconomics concepts as a primary

    Write a 3 page paper using microeconomics concepts as a primary mode of analysis.  Your paper should use 1.5 line spacing, a 12 point font, and 1inch margins.  Proof read your paper.  You will lose 5 percentage points per day for each day past the

    		•
  • Q : Problem on full employment level of

    What happens when AD > AS past to full employment level of employment?

    		•
  • Q : Internet technology in airline

    Speculate regarding the behavior which could result from Internet technology in airline transactions and propose 2 or more strategies to deal with them.

    		•