Homework L4 Economic Efficiency Price Controls Taxes Save S

Homework: L4. Economic Efficiency, Price Controls & Taxes Save Score: 0 of 1 pt End of Chapter 1.7 Consider the information given in the table on four consumers in the market for premium bottled water. 1 of 32 (18 complete) HW Score: 46 88%, 15 of 32 pts E Question Help Highest Price Willing to Pay Consumer $4 Jill Jose Josh Jordan f the price of a bottle of premium bottled water is $1.50, the total consumer surplus received by these consumers is (Enter your response rounded to two decimal places)

Solution

Solution: $4.50

Working:

	A	A-1.50
Jill	4	2.5
Jose	3	1.5
Jjosh	2	0.5
Jordan	1
		4.5