Figure 9-2
The figure illustrates the market for calculators in a country.
-Refer to Figure 9-2.With free trade,consumer surplus is
A)$320.
B)$640.
C)$845.
D)$1,690.

Question

Figure 9-2
The figure illustrates the market for calculators in a country. 
-Refer to Figure 9-2.With free trade,consumer surplus is
A)$320. 
B)$640. 
C)$845. 
D)$1,690.

Quizplus · Accepted Answer

Consumer surplus is the difference between the price consumers are willing to pay for a good and the price they actually pay. In this case, consumers are willing to pay $1,000 for the good, but they only have to pay $680. Therefore, consumer surplus is $1,000 - $680 = $320.

Figure 9-2 The Figure Illustrates the Market for Calculators in a Country