Assume that there are four consumers a, b, c, and d, and the prices that each of them is willing to pay for a glass of lemonade is, respectively, $1.50, $1.20, $1.00, and $0.90. if the actual price of lemonade is $1.00 per glass, then consumer surplus in this market will be $0.70.

The consumer surplus in this market will be $0.70. This is false.

Step-by-step explanation:

There are four consumers A, B, C, and D.

The consumers are willing to pay for a glass of lemonade as $1.50, $1.20, $1.00, and $0.90 respectively.

The actual price of lemonade is $1.00 per glass. So, the consumer surplus in this market will be = $0.60

Hence, the given condition is False.

step-by-step explanation:

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step-by-step explanation:

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