If a buyer's willingness to pay for a new bike is 20$ and its actual price is 22$, her consumer surplus is Оа. 2$ O b. 20$ O c. OS O d. 18$ Consumer surplus is the area Oa Below the demand curve and above the price O b. Above the demand curve and below the price O c. Below the supply curve and above the price O d. Above the supply curve and below the price

If a buyer's willingness to pay for a new bike is 20$ and its actual price is 22$, her consumer surplus is Оа. 2$ O b. 20$ O c. OS O d. 18$ Consumer surplus is the area Oa Below the demand curve and above the price O b. Above the demand curve and below the price O c. Below the supply curve and above the price O d. Above the supply curve and below the price

Principles of Macroeconomics (MindTap Course List)

8th Edition

ISBN:9781305971509

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter7: Consumers, Producers, And The Efficiency Of Markets

Section: Chapter Questions

Problem 6PA

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