Isabella buys a new camera for $80. She receives consumer surplus of $35 on her purchase if her willingness to pay is

Name: Isabella buys a new camera for $80. She receives consumer surplus of $35 on her purchase if her willingness to pay is
Brand: Quizplus
Rating: 4.8 (53 reviews)

Question

Quizplus · Accepted Answer

Consumer surplus is the difference between the willingness to pay and the actual price paid. If Isabella's consumer surplus is $35 and she paid $80, her willingness to pay must have been $115 ($80 + $35).

Isabella Buys a New Camera for $80