Suppose a consumer is willing to pay $20 for one good X, $10 for a second, and $5 for a third, and the market price is $4. The consumer surplus is:
A) $16.
B) $6.
C) $1.
D) $23.

Question

Suppose a consumer is willing to pay $20 for one good X, $10 for a second, and $5 for a third, and the market price is $4. The consumer surplus is:
A) $16.
B) $6.
C) ​$1.
D) ​$23.

Quizplus · Accepted Answer

The Answer of Suppose a consumer is willing to pay $20 for one good X, $10 for a second, and $5 for a third, and the market price is $4. The consumer surplus is:
A) $16.
B) $6.
C) ​$1.
D) ​$23.

Suppose a Consumer Is Willing to Pay $20 for One