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Essay

Consumer Surpluses

Essay specific features

 

Issue:

Business

 

Written by:

Carlos W

 

Date added:

May 3, 2013

 

Level:

University

 

Grade:

A

 

No of pages / words:

5 / 1302

 

Was viewed:

5446 times

 

Rating of current essay:

 
Essay content:

Those who value a bottle of mineral water at RM5.00 or more will buy it and would obtain consumer surpluses. (Case & Fair, 2004) Consumers will buy a product regardless of the increased price from the initial market price only if there is extra utility (consumer surplus) for them and the price does not exceed their budget...
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The first bottle was worth RM10 to him, his second RM9, his third RM8, his fourth RM7, and his fifth RM6. A sixth bottle would either worth below RM5.00 to him or simply worthless. The consumer surplus Bob gained by purchasing five bottles of mineral water is RM5.00 for the first bottle, RM4.00 for the second, RM3...
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General issues of this essay:
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