Scenario 8-2
Tom mows Stephanie's lawn for $25. Tom's opportunity cost of mowing Stephanie's lawn is $20, and Stephanie's willingness to pay Tom to mow her lawn is $28.
-Refer to Scenario 8-2.Stephanie's consumer surplus as a result of hiring Tom to mow her lawn is

Question

Quizplus · Accepted Answer

Stephanie's consumer surplus is the difference between what she is willing to pay ($28) and what she actually pays ($25), which is $3.

Scenario 8-2 Tom Mows Stephanie's Lawn for $25. Tom's Opportunity Cost of Cost