Question
Calculate the consumer surplus generated:
1.Sarah is willing to pay up to $10 for a shirt. He picks up one he likes for $8.
2.Josh goes to the store to to find a used vinyl for a max of $10.the store has one copy for $10 which he buys
3.After basketball Sarah is willing to pay $2 for a water bottle . The 7/11 sells it for $2.25, so she declines to purchase it
My answers :
1. $2
2. $0
3. $0.25
1.Sarah is willing to pay up to $10 for a shirt. He picks up one he likes for $8.
2.Josh goes to the store to to find a used vinyl for a max of $10.the store has one copy for $10 which he buys
3.After basketball Sarah is willing to pay $2 for a water bottle . The 7/11 sells it for $2.25, so she declines to purchase it
My answers :
1. $2
2. $0
3. $0.25