Homework SourseM inboxahernandezce Course 2018 Spring Mark George Fox Univ
M inbox-ahernandezce Course: 2018 Spring- Mark: × -George Fox Universit X VKarol G, Ozuna- /X e 1 . Assuming $5 To Be ANTONIO × d www.saplinglearning.com/ibiscms/mod/ibis/view.php?id=4864035 Sapling Learning macmilan learning Jump to... Antonio Hernandez Caballero 01/28/2018 11:55 PM@6.4/10() 1/21/20180944 PM Gradebook Score You lose 5% o f the points available to each # Attempts Print Calculator attempt at that answer Question 12 of 17 Map ot D eTextbook Sapling Learning Below is the market for pizza cutters. Help With This Topid 10 Assuming S5 to be the equilibrium price for this We do not currently have any resources mapped to this topic. If you have a suggestion for a resource, please let us know at resources@saplinglearning.com. rket, please shade in Consumer Surplus (CS), Producer Surplus (PS), and Total Surplus (TS) 2. Assume Felix is willing to pay S8 for a pizza cutter. Tim also wants one, but would only be willing to pay $6 for one O Web Help & videos At a pizza baker\'s convention, Felix buys the last pizza cutter at the market price just before Tim could buy it. Tim contacts the convention organizers and complains about missing out on the last pizza cutter. The organizers refund Felix for the pizza cutter and allow Tim to buy it at the market price. microcconomics Produ Search 101 Ps Video Web Book 11 2 12 0 13 0 14 15 0 16 0 17 0 What happens as a result of this move? O Consumer surplus increases. O Producer surplus increases O Producer surplus decreases. O Consumer surplus decreases. The original Eoogle Books Embedded Viewer API is no longer available. Please see https://developers.google.com/books/docs/vies to update to the new version. Number of Pzza Cuers O Technical Support and Bug Reports OPrevous Gve Up & View Solution Check Answer Next Exit 11:22 PM di 1/21/2018 O Type here to search 0ll Links Desktop f ^ 
Solution
Consumer surplus would decrease (option 4 is correct)
Initial consumer surplus (last cutter)= 8 - 5 = $ 3
New consumer surplus = 6 - 5 = $ 1
