Question #237468
Suppose there are three identical flats available to be purchased. Buyer 1 is
willing to pay €30,000 for one, buyer 2 is willing to pay €25,000 for one, and
buyer 3 is willing to pay €20,000 for one. If the price is €25,000, how many
flats will be sold and what is the value of consumer surplus in this market?
willing to pay €30,000 for one, buyer 2 is willing to pay €25,000 for one, and
buyer 3 is willing to pay €20,000 for one. If the price is €25,000, how many
flats will be sold and what is the value of consumer surplus in this market?
Expert's answer
2 flats will be sold
30000-25000 = 5000
Consumer surplus = 5000
Learn more about our help with Assignments: Microeconomics
Finding a professional expert in "partial differential equations" in the advanced level is difficult.
You can find this expert in "Assignmentexpert.com" with confidence.
Exceptional experts! I appreciate your help. God bless you!
#340153 on Dec 2023
#340153 on Dec 2023
Comments