Use the following to answer question:
-(Table: Consumer Surplus and Phantom Tickets)The table Consumer Surplus and Phantom Tickets shows each student's willingness to pay for a Phantom of the Opera ticket.Assume that each student wants to buy one ticket.If the price of a ticket to see Phantom of the Opera is $50,then Robert's consumer surplus is:
A)$60.
B)$50.
C)$10.
D)$240.

Question

Use the following to answer question: 
-(Table: Consumer Surplus and Phantom Tickets)The table Consumer Surplus and Phantom Tickets shows each student's willingness to pay for a Phantom of the Opera ticket.Assume that each student wants to buy one ticket.If the price of a ticket to see Phantom of the Opera is $50,then Robert's consumer surplus is:
A)$60. 
B)$50. 
C)$10. 
D)$240.

Quizplus · Accepted Answer

Robert's maximum willingness to pay is $60, but he only has to pay $50 for the ticket. Therefore, his consumer surplus is $60 - $50 = $10.

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