Respuesta :
Premium bottled water costs $1.50 per bottle.
If the greatest price a customer is prepared to spend is more than or on par with the cost of the bottle of premium bottled water, then they would be inclined to buy it.
Josh, Jose, and Jill are prepared to spend more money than the cost of the expensive bottle of bottled water.
The bottle of premium bottled water will thus be bought by these three.
Determine the consumer surplus that Jill obtained.
Price = $4 - $1.50 = $2.50; Consumer surplus = Maximum Willingness to Pay
Jill has been given a consumer surplus of $2.50.
Determine the consumer surplus that Jose has received by these consumers is $2.00.
Maximum willingness to pay minus price equals $3- $1.50 = $1.50
Jose has been given a consumer surplus of $1.50.
Determine the consumer surplus that Josh has received.
Maximum willingness to pay minus price equals consumer surplus, which is $2 - $1.50 = $0.50.
Josh has been given a consumer surplus of $0.50.
Determine the total consumer surplus that these customers have received.
The sum of Jill's, Jose's, and Josh's individual consumer surpluses is known as the total consumer surplus.
Total consumer surplus is equal to $4.50 ($2.50 + $1.50 + $0.50).
Thus,
These consumers have received a total of $4.50 in consumer surplus.
The cost of a bottle of premium bottled water has now gone up to $2.50.
If the consumer's maximum price threshold is higher than or on par with the price of the bottle of premium bottled water, they are likely to buy it.
of the high-quality water bottle.
The largest amount that Jill and Jose will spend exceeds the cost of the new bottle of premium bottled water.
Therefore, these two will buy the bottle of luxury bottled water.
Determine the consumer surplus that Jill obtained.
Maximum willingness to pay minus the price, or $4 minus $2.50, is $1.50.
Jill has been given a consumer surplus of $1.50.
Determine the consumer surplus that Jose has received.
Maximum willingness to pay minus the price, or $3 minus $2.50, equals $0.50.
Jose gets compensated by the consumer surplus of $0.50.
Determine the total consumer surplus that these customers have received.
Total consumer surplus is equal to the total of Jill's and Jose's consumer surpluses.
Total consumer surplus is equal to $2.00 ($1.50 + $0.50).
Thus,
The overall excess of consumers received by these consumers is $2.00.
Learn more about https://brainly.com/question/19091385
#SPJ4
