Asked by Daniel Candelaria on Jun 12, 2024
Verified
If Darby values a soccer ball at $50, and she pays $40 for it, her consumer surplus is $90.
Consumer Surplus
The discrepancy in the total sum consumers are willing to offer for a good or service compared to what they actually offer.
- Apprehend the fundamentals of willingness to pay, genuine payment, and surplus determination.
Verified Answer
KK
khushboo kapilaJun 18, 2024
Final Answer :
False
Explanation :
Her consumer surplus is $10, because consumer surplus is the difference between what a consumer is willing to pay ($50) and the actual price paid ($40).
Learning Objectives
- Apprehend the fundamentals of willingness to pay, genuine payment, and surplus determination.