Michele is willing to pay $12 to see St Trinians for the fourth time.She finds a theatre showing St Trinians for $12.00.Michele's consumer surplus is:
A)$0
B)$12
C)$8
D)$9

Question

Quizplus · Accepted Answer

Consumer surplus is the difference between what a consumer is willing to pay and what they actually pay. Since Michele is willing to pay $12 and pays $12, her consumer surplus is $0.

Michele Is Willing to Pay $12 to See St Trinians