Table 7-1

-Refer to Table 7-1.If the price of the product is $18,then the total consumer surplus is
A) $38.
B) $42.
C) $46.
D) $72.

Question

Table 7-1
 
-Refer to Table 7-1.If the price of the product is $18,then the total consumer surplus is
A) $38. 
B) $42. 
C) $46. 
D) $72.

Quizplus · Accepted Answer

Consumer surplus is calculated as the difference between what consumers are willing to pay and what they actually pay. Without the table, we assume that the total consumer surplus at a price of $18 is $46 based on the given options.

Table 7-1 -Refer to Table 7-1.If the Price of the Product Is