--%>
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 : Redistribution of Income through budget

    Redistribution of Income: Each and every economy strives to achieve a society, where inequality of income and wealth must be minimum. In order to attain this objective via government budget the government spends adequate money on social security schem

    		•
  • Q : Domestic inflation of fixed or managed

    Question: A county with a fixed or managed exchange rate would consider i.___________________ its currency if the country is worried about domestic inflation. ii. Briefly Explain?

    Q : Fiscal measures to accurate

    Describe the fiscal measures to accurate the condition of deficient demand and excess demand. Answer: Fiscal measures are the government’s budgetary policy th

    		•
  • Q : Problem of Financial Capital for direct

    The direct economic resources a farmer employs to generate avocadoes would not comprise: (I) human capital in form of expertise regarding growing avocadoes. (II) fertile land. (III) loans from a bank to finance SUCH year’s crop. (IV) machinery,

    		•
  • Q : What is substitutes Substitutes : The

    Substitutes: The two goods for which a rise in the price of one good leads to a rise in the demand for another.

    		•
  • Q : Problem onto marginal tax rates A

    A prosperous person who made higher and higher incomes yearly would possibly benefit most from: (w) proportional tax system. (x) progressive tax system, much like the one in place today. (y) regressive tax system. (z) fixed percentage tax system.

    Q : Tariffs Tariffs: -are also called

    Tariffs: -are also called import quotas. -may be imposed either to raise revenue (revenue tariffs) or to shield domestic producers from foreign competition (protective tariffs). -are per unit subsidies designed to promote exports. -are excise taxes on goods exported abroad.

    		•
  • Q : Inflation Inflation is frequently

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

    		•
  • Q : National income Gross domestic capital

    Gross domestic capital formation is always greater than gross fixed capital formation

    		•
  • Q : Nominal GNP problem The value of

    The value of nominal GNP of an economy was Rs. 2,500 crores in a specific year. The value of GNP of that country throughout the same year, computed at the prices of some base year was Rs.3000 crores. Evaluate the value of GNP deflator of the year in terms of percentag

    		•