Mr. Noriega paid $700 for each of three suits. Since all of the suits were pleasing to his taste, he would have been willing to pay according to this schedule: $950 for the first suit, $800 for the second suit, and $700 for the third suit. How much was his consumer surplus?a. $100.b. $150.c. $350.d. $250.

C)$350

Explanation:

First suit

Price willing to pay=$950

Actual paid price=$700

Consumer surplus=$950-$700

=$250

Second suit

Price willing to pay=$800

Actual paid price=$700

Consumer surplus=$800-$700

=$100

Third suit

Price willing to pay=$700

Actual paid price=$700

Consumer surplus=$700-$700

=$0

Total surplus= 1st+2nd+ 3rd consumer surplus

= $250+$100+$0

=$350

explanation:

a gas is not used in hydraulic machines as the fluid because gas is easily compressible and so if a gas is used, the energy would mostly go into compressing a gas. therefore a liquid is used in hydraulic machines as the fluid.

the u.s. census bureau produces data on the population and economy nationwide. it can you to analyze the kind of people living in your neighborhood. it does not show you the market of people willing to buy your product or an existing market for your product. that will require more market research. the census bureau only gives you an insight to the demographics in your area.