If your willingness to pay for a hamburger is €3.00 and the price is €2.00, your consumer surplus is €5.00.

Name: If your willingness to pay for a hamburger is €3.00 and the price is €2.00, your consumer surplus is €5.00.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The consumer surplus is the difference between the willingness to pay and the actual price paid. Therefore, the consumer surplus in this case would be €1.00 (€3.00 - €2.00), not €5.00.

If Your Willingness to Pay for a Hamburger Is €3