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Suppose the price of a good is $179. The first customer is willing to pay $200, the second customer is willing to pay $210, and the third customer is willing to pay $300. How much consumer surplus is there in this market

Respuesta :

Answer:

$21 ; $31 ; and $121

Explanation:

The formula and the computation of the consumer surplus is shown below:

As we know that

The consumer surplus = Willing to pay - Market price

So

For the first customer, it would be

= $200 - $179

= $21

For the second customer, it would be

= $210 - $179

= $31

And, for the third customer, it would be

= $300 - $179

= $121

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