Question

What is the ranking of consumers' willingness to pay among Gilberto, Lorenzo, Neha, and Juanita?

a) $45, $25, $15, $35
b) $25, $15, $35, $45
c) $15, $25, $35, $45
d) $35, $15, $25, $45

Answer 1

The ranking of consumers' willingness to pay among Gilberto, Lorenzo, Neha, and Juanita is Neha, Gilberto, Lorenzo, and Juanita.

Step-by-step explanation:

The ranking of consumers' willingness to pay among Gilberto, Lorenzo, Neha, and Juanita can be determined by comparing their respective total expenditures. Let's compare the given totals:

1. Gilberto: $56.75
2. Lorenzo: $43.25
3. Neha: $65.00
4. Juanita: $25.50

Based on these totals, the ranking of consumers' willingness to pay is:

1. Neha: $65.00
2. Gilberto: $56.75
3. Lorenzo: $43.25
4. Juanita: $25.50