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Mike really enjoys Bitter Sweet coffee and is willing to pay $10per cup. The retail...

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Question

Economics

Mike really enjoys Bitter Sweet coffee and is willing to pay $10per cup. The retail price is $3. Which statement is correct? Mike'sconsumer surplus is

$10

per cup. Mike has a eonsumer surplus of 57 per cup. The sellercan raise the price to

$13

and still make a sale to Mike. Mise is getting a poor deal onthe coffee.

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