# Suppose there are three identical vases available to be purchased. Buyer 1 is willing to pay Rs30 for one, buyer 2 is willing to pay Rs25 for one, and buyer 3 is willing to pay Rs20 for one. If the price is Rs25, how many vases will be sold and what is the value of consumer surplus in this market ? with Answer - Economics Mcqs | TestPrep

> Solved MCQ: Suppose there are three identical vases available to be purchased. Buyer 1 is willing to pay Rs30 for one, buyer 2 is willing to pay Rs25 for one, and buyer 3 is willing to pay Rs20 for one. If the price is Rs25, how many vases will be sold and what is the value of consumer surplus in this market ? Correct Answer: E. Two vases will be sold, and consumer surplus is Rs5.. Verified answer explanation for FPSC, PPSC, MDCAT, NTS, and CSS competitive exam preparation.

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# Suppose there are three identical vases available to be purchased. Buyer 1 is willing to pay Rs30 for one, buyer 2 is willing to pay Rs25 for one, and buyer 3 is willing to pay Rs20 for one. If the price is Rs25, how many vases will be sold and what is the value of consumer surplus in this market ?

Direct Answer & Quick Reference

The correct option is **E. Two vases will be sold, and consumer surplus is Rs5.**.

A. Three vases will be sold, and consumer surplus is Rs80

B. One vase will be sold, and consumer surplus is Rs5.

C. One vase will be sold, and consumer surplus is Rs30.

D. Three vases will be sold, and consumer surplus is Rs0.

E. Two vases will be sold, and consumer surplus is Rs5. **(Correct Answer)**

✨ Explain with AI

Verified Key: E. Two vases will be sold, and consumer surplus is Rs5.
Solved by 3,812+ students

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