Answered: If this consumer's maximum willingness…

If this consumer's maximum willingness to pay for a product is $280, but this consumer actually paid $210, how much is this consumer's consumer surplus? A. $90 B. $70 C. $55 D. $35

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter3: Market Demand And Supply

Section3.A: Consumer Surplus, Proudcer Suplus, And Market Efficency

Problem 2SQ

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Question

If this consumer's maximum willingness to pay for a product is $280, but this consumer actually paid $210, how much is this consumer's consumer surplus?

	A.	$90
	B.	$70
	C.	$55
	D.	$35

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