Use the following to answer question:
-(Figure: Consumer Surplus II)Look at the figure Consumer Surplus II.If the price of the good is $4,consumer surplus will equal:
A)$5.
B)$10.
C)$20.
D)$40.

Question

Use the following to answer question: 
-(Figure: Consumer Surplus II)Look at the figure Consumer Surplus II.If the price of the good is $4,consumer surplus will equal:
A)$5. 
B)$10. 
C)$20. 
D)$40.

Quizplus · Accepted Answer

Consumer surplus is the difference between the price consumers are willing to pay for a good and the price they actually pay. In this case, consumers are willing to pay up to $10 for the good, but they are only paying $4. Therefore, consumer surplus is $10 - $4 = $6.

Use the Following to Answer Question