Question: Steve loves potato chips. His weekly demand curve is shown in the following exhibit.
![416_Potato chips.png](https://secure.tutorsglobe.com/CMSImages/416_Potato chips.png)
a. How much is Steve willing to pay for one bag of potato chips?
b. How much is Steve willing to pay for a second bag of potato chips?
c. If the actual market price of potato chips is $2.50, and Steve buys five bags as shown, what is the value of his consumer surplus?
d. What is Steve's total willingness to pay for five bags?