Which of the following is an example of consumer surplus?
A) Sue would have paid $15 for a new compact disc but paid only $10.
B) Jose buys a hamburger for $2 and tells you he would not have paid a penny more.
C) Mary buys a pad of paper for $2 and finds the same good at another store for $1.50.
D) John believes the price he paid for his computer was too high.
E) Anne finds a mountain bike for which she is willing to pay a maximum of $550 and the price of the bike is $600.

Question

Quizplus · Accepted Answer

Consumer surplus is the difference between the maximum price a consumer is willing to pay for a good or service and the actual price paid. In this case, Sue was willing to pay $15 for the compact disc but only had to pay $10, resulting in a consumer surplus of $5.

Which of the Following Is an Example of Consumer Surplus