Nancy paid $55 for car mats but was willing to pay $80. What is Nancy's consumer surplus?
A) $80
B) $15
C) $25
D) $135

Name: Nancy paid $55 for car mats but was willing to pay $80. What is Nancy's consumer surplus? A) $80 B) $15 C) $25 D) $135
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Consumer surplus is the difference between what a consumer is willing to pay and what they actually pay. Nancy was willing to pay $80 but paid $55, so her consumer surplus is $80 - $55 = $25.

Nancy Paid $55 for Car Mats but Was Willing to Pay