There are six potential consumers of computer games, each willing to buy only one game. Consumer 1 is willing to pay $40 for a computer game, consumer 2 is willing to pay $35, consumer 3 is willing to pay $30, consumer 4 is willing to pay $25, consumer 5 is willing to pay $20, and consumer 6 is willing to pay $15.
(a )
(b)
Consumer surplus when market the price decreases to $19.(c)
The change in consumer surplus when price falls from $29 to $19.Concept Introduction:
Consumer Surplus:
It is defined as the difference between consumer’s
It is defined as the difference between the amount a producer of a good receives and the minimum amount the producer is willing to accept for the good. It is the area below the price level and above the supply curve.
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