Use the figure below to answer the following questions. Figure 5.2.1
-Consider Figure 5.2.1.If the price is $4,what is the consumer surplus from the third unit of the good?
A)$0
B)$1
C)$2
D)$3
E)$4

Question

Use the figure below to answer the following questions.  Figure 5.2.1
-Consider Figure 5.2.1.If the price is $4,what is the consumer surplus from the third unit of the good?
A)$0 
B)$1 
C)$2 
D)$3 
E)$4

Quizplus · Accepted Answer

Consumer surplus is the difference between the maximum amount a consumer is willing to pay for a good and the price they actually pay. In this case, the third unit is valued at $7 by the consumer, but they only pay $4, so their consumer surplus is $3. 
As for the best choice(s), there is no question provided for this.

Use the Figure Below to Answer the Following Questions