If Matthew Avischious were to purchase five drinks at \(\$ 1\) each, he would enjoy a consumer surplus. (LO6)

Consumer surplus is an economic measure of the difference between the amount a consumer is willing to pay for a good or service and the actual amount they pay. It represents the benefit consumers receive from buying goods and services at a lower price than they are willing to pay.

To calculate the consumer surplus, we need to know the amount Matthew is willing to pay for each drink and the actual price of the drinks. However, the exercise does not provide information about Matthew's willingness to pay for each drink. Without this information, we cannot calculate the exact consumer surplus.

Though we do not have the specific willingness to pay value, theoretically, we can still illustrate the concept of consumer surplus. Let's assume that Matthew Avischious is willing to pay different amounts for each of the 5 drinks: \(W_1, W_2, W_3, W_4, W_5\), where each \(W_i\) represents the willingness to pay for the ith drink. In this situation, the consumer surplus for each drink can be calculated as the difference between the willingness to pay and the actual price of the drink ($1): \[Consumer Surplus_i = W_i - \$1\] The total consumer surplus for all 5 drinks can then be calculated as: \[Total Consumer Surplus = \sum_{i=1}^{5} (W_i - \$1)\] Keep in mind that without specific values for \(W_i\), we are not able to calculate the exact consumer surplus.

The exercise does not provide enough information to calculate Matthew Avischious's exact consumer surplus for purchasing five drinks at $1 each. However, the concept of consumer surplus has been explained, and a theoretical illustration for the situations has been provided. To determine the exact consumer surplus, we would need information on Matthew's willingness to pay for each drink.