Consumer surplus is the: a. number of consumers who are excluded ...

[CORALGRILL2014]

Consumer surplus is the:
 a. number of consumers who are excluded from a market because of scarcity.
  b. amount of a good that consumers will buy at a price below the equilibrium price.
  c. amount consumers are willing to pay for a good minus the amount the consumers actually pay for it.
  d. amount consumers are willing to pay for a good minus the cost of producing the good.

Question 2

At 30 each, Jack will buy 1 Blu-ray and at 25, he will purchase 2 . If the price is 25, Jack's consumer surplus is:
 a. 5.
 b. 10.
  c. 15.
  d. 20.

[juiceman1987]

Answer to Question 1

c

Answer to Question 2

a

[CORALGRILL2014]

Thank you

[juiceman1987]

No problemo