Amy buys a new dog for $1500.She receives consumer surplus of $300 on her purchase.Her willingness to pay is:

Name: Amy buys a new dog for $1500.She receives consumer surplus of $300 on her purchase.Her willingness to pay is:
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Question

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Consumer surplus is the difference between what a consumer is willing to pay and what the consumer actually pays. Amy's willingness to pay is her actual payment ($1500) plus her consumer surplus ($300), totaling $1800.

Amy Buys a New Dog for $1500