Evadneys willingness to pay price for a romantic novel is, Ask an Expert

Economics

(Evadney's willingness to pay price for a romantic novel is $50 but she pays $20 for the book, the difference between the indicated prices represents her)

Suppose Evadney's reservation price remains unchanged as in #Q64 above but the actual price she pays for the novel is now $65, which of the following statements would be true ?

(A) Her consumer surplus expands

(B) Her welfare declines

(D) Her consumer surplus is unchanged

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91870473

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