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anonymous
 one year ago
Samuel has $20 and wants to buy a notebook. He buys the first one he finds, costing him $6. Evaluate Samuel's financial literacy.
anonymous
 one year ago
Samuel has $20 and wants to buy a notebook. He buys the first one he finds, costing him $6. Evaluate Samuel's financial literacy.

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anonymous
 one year ago
Best ResponseYou've already chosen the best response.0This is not the best worded question, but I will work with assumptions. Samuel has $20, so presumably he is willing to spend $20. In this case, he is is a logical consumer because he purchased the $6 notebook. His consumer surplus is $14. (i.e. he is $14 better off for the transaction, because he was willing to spend $20 and only needed to spend $6)
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