1. Determine the amount of consumer surplus generated in each of the following situations William goes to the clothing store to buy a new T-shirt, for which he is willing to pay up to $10. He picks...

Extracted text: 1. Determine the amount of consumer surplus generated in each of the following situations William goes to the clothing store to buy a new T-shirt, for which he is willing to pay up to $10. He picks out one he likes with a price tag of exactly $10. At the cash register, he is told that his T-shirt is on sale for half the posted price. b. Sophia goes to the CD store hoping to find a used copy of the Eagles Greatest Hits for up to $10. The store has one copy selling for $10 c. After baseball practice, Nicholas is willing to pay $2 for a bottle of mineral water. The 7-Eleven sells mineral water for $2.25 a bottle. а.