1 answer

QUESTION 4 Table: Willingness to Pay Maximum Willingness to Pay for Good A and Good B...

Question:

QUESTION 4 Table: Willingness to Pay Maximum Willingness to Pay for Good A and Good B John Mary Good A $90 $35 Good B $30 $70

QUESTION 4 Table: Willingness to Pay Maximum Willingness to Pay for Good A and Good B John Mary Good A $90 $35 Good B $30 $70 Reference: Ref 14-6 (Table: Willingness to Pay) Refer to the table. What is John's maximum willingness to pay for the bundled goods? A. $90 B. $30 C. $105 OD.$120 QUESTION 5 Table: Willingness to Pay Maximum Willingness to Pay for Good A and Good B Mary John Good A $90 $35 Good B $30 $70 Reference: Ref 14-6 (Table: Willingness to Pay) Refer to the table. What is Mary's maximum willingness to pay for the bundled goods? A. $120 B. $30 C. $105 D.$70

Answers

4) Maximum Willingness to pay for John = sum of willingness for bundled goods = 90 + 30 = $120

Therefore (D) is the answer to the question

5) Maximum willingness to pay for Mary = sum of individual goods

= 35+70 = $105 ,

Therefore (C) is the answer to the question

.

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