--%>

Total consumer surplus received

Assume that you gain $36 worth of pleasure from first hole of the golf played on any specific day since you are an avid golfer, however the extra pleasure you profit from playing succeeding holes drops by $2 per additional hole. The $40 greens fee is needed to begin on any specific day however you can then play as lots of holes as you like with no extra fees. When you played nine holes one morning and then had to go away the course since of a family emergency, the net consumer surplus you would have obtained that day from playing golf would have been worth roughly: (1) 92 dollars. (2) 212 dollars. (3) 172 dollars. (4) 132 dollars. (5) 252 dollars.

Find out the right answer from the above options.

   Related Questions in Microeconomics

  • Q : Barriers prevent entry in long run

    Within the long run, a monopoly cannot continually produce economic profit unless: (w) economies of scale are important. (x) corporate taxes are lowered. (y) barriers to entry are significant. (z) the monopolist maximizes profit.

  • Q : Potential advantage offer by Oligopolies

    Oligopolies offer a potential advantage to society since them: (w) may be capable to amass the huge resources required for modern research and growth. (x) tend to be more socially responsible than small firms. (y) typically maximize long run quite tha

  • Q : Purely competitive decreasing cost

    When a decreasing cost industry is purely competitive in that case: (1) each firm’s long-run supply curve is downward sloping. (2) each firm encounters increasing returns to scale. (3) growth of industry output yields lower per unit costs. (4) c

  • Q : Successful strategy of product

    A successful strategy of product differentiation causes: (w) the demand curve to shrink and become more elastic. (x) the demand curve becomes perfectly elastic. (y) prices for close substitutes to equalize. (z) the marginal revenue curve to be below t

  • Q : Elastic and Inelastic demand An

    An increase in the price of goods, outcomes in an increase in expenses on it. This demand is elastic or inelastic? Answer: Inelastic since there is direct relation

  • Q : Price taker in perfect competition

    State how is a single buyer a price taker in the perfect competition? Answer: A single buyer’s share in total market demand is too significant that the buyer

  • Q : Constant price elasticity plausible for

    Constant price elasticity equivalent to one for socket sets would be mainly plausible for demand curve as: (1) D1D1. (2) D2D2.  (3) D3D3. (4) D4D4. (5) D

  • Q : Labor Contracts and Shop Agreements

    From the point of view of management, the favored union membership ranking (that is, most favored to least favored) would be: (i) Closed shop, union shop, agency shop and open shop. (ii) Open shop, agency shop, union shop and closed shop. (iii) Agency shop, open shop,

  • Q : Demand for Labor-Monopsony Power When

    When wage discrimination is not probable for the first 40 workers this profit-maximizing organization hires, however it can wage discriminate perfectly whenever hiring all the subsequent workers, it hires a net of: (i) Forty workers at an average salary of $700 per we

  • Q : Price elasticity of demand Elucidate

    Elucidate any four factors which affect the price elasticity of demand.