If a bookstore were having a half-price sale, instead of buying three books, you bought six. Because of the sale, your consumer surplus
A)declined.
B)stayed the same.
C)rose.
D)doubled.

Question

Quizplus · Accepted Answer

Consumer surplus is the difference between the price a consumer is willing to pay for a good and the actual price they pay. With the half-price sale, the actual price is lower, increasing the consumer surplus for each book purchased. Buying six books instead of three means the consumer is getting even more value for their money, further increasing their consumer surplus.

If a Bookstore Were Having a Half-Price Sale, Instead of Buying