Bob purchases a book for $6,and his consumer surplus is $2.How much is Bob willing to pay for the book?
A)$6.
B)$2.
C)$8.
D)$4.

Question

Quizplus · Accepted Answer

Bob's consumer surplus is the difference between what he is willing to pay and what he actually pays. Therefore, if Bob's consumer surplus is $2, then he is willing to pay $8 for the book ($8 - $6 = $2). Therefore, choice C ($8) is the best answer.

Bob Purchases a Book for $6,and His Consumer Surplus Is