--%>
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 : Aggregate demand if government budget

    What occurs to aggregate demand if the government budget is in deficit? Answer: The deficit budget raises the aggregate demand since the deficit budget signifies th

    		•
  • Q : How Bank rates control the credit How

    How Bank rates control the credit? Answer: Bank rate is the rate of interest at which the Central bank lends to Commercial banks. By increasing the bank rate centra

    		•
  • Q : Value of MPC when MPS is zero Determine

    Determine the value of MPC whenever MPS is zero? Answer: Whenever MPS = 0, MPC = 1 – 0 = 1.

    		•
  • 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 : Implication of Fiscal deficit

    Implication of Fiscal deficit A) It raise the supply of money in the economyB) It rises financial burden for future generation.C) It is the cause of inflation.

    		•
  • Q : Computing Fiscal deficit In government

    In government budget, primary deficit is Rs. 10,000 crores and interest payment is Rs. 8,000 crores. Compute the fiscal deficit?

    		•
  • Q : Demand-pull inflation What is

    What is "demand-pull" inflation?

    		•
  • Q : Public debt How does an internally held

    How does an internally held public debt differ from an externally held public debt?

    		•
  • Q : Inflation Inflation is frequently

    Inflation is frequently described as "too much money chasing too few goods." Is this a satisfactory definition?

    		•
  • Q : Problem on perfect replacements Imports

    Imports and American cars are much close however not perfect replacements. When the U.S. govt. tried to enhance American car sales by setting a price ceiling of P1 on imported cars: (i) The quantity of cars imported will drop/fall from Q0 to Q1. (ii)

    		•