If consumers' surplus is $30 and the price paid for the good is $50, then the maximum price a buyer is willing and able to pay for the good is
A)$80.
B)$30.
C)$50.
D)$20.

Question

Quizplus · Accepted Answer

The maximum price a buyer is willing and able to pay for the good is the sum of the price paid for the good and the consumer's surplus. In this case, the price paid for the good is $50 and the consumer's surplus is $30, so the maximum price a buyer is willing and able to pay for the good is $50 + $30 = $80.

If Consumers' Surplus Is $30 and the Price Paid for the Good