If a consumer is willing to pay $20 for a pizza, but the price of the pizza is $10, then the amount of consumer surplus resulting from the customer's purchase of that pizza would be

Question

Quizplus · Accepted Answer

Consumer surplus is the difference between what a consumer is willing to pay and what they actually pay. In this case, the consumer is willing to pay $20 but pays $10, resulting in a consumer surplus of $10.

If a Consumer Is Willing to Pay $20 for a Pizza