What is the consumer surplus on all the bottles bert buys


Problem

It is a hot day and Bert is thirsty. Here is the value he places on each successive bottles of water.

1st bottle

$7

2nd bottle

$5

3rd bottle

$3

4th bottle

$1

1. If the market price of water is $3, how many bottles will Bert buy?
2. What is the consumer surplus on all the bottles Bert buys?

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Macroeconomics: What is the consumer surplus on all the bottles bert buys
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