Assignment: Principles of Microeconomics
John is looking for an Economic book, because he is not very happy with his accumulated grade in this course. As he has a limited budget, he is willing to pay no more than $ 50.
a. He goes to the local Library and looked at the place where some books were sold. He found an economic book for "dummies" at $ 20. Which would be his consumer surplus in the case he buys it?
b. As he considered the book at the Library too basic, he explored used books at Internet and found a popular online bookstore that was selling a good textbook at $ 80.
What do you think he did?
Answer in 120 words and provide at least one reference.
Attachment:- VIDEOS.rar