Brock is willing to pay $400 for a new suit,but he is able to buy the suit for $350.His consumer surplus is
A) $50.
B) $150.
C) $350.
D) $400.

Name: Brock is willing to pay $400 for a new suit,but he is able to buy the suit for $350.His consumer surplus is A) $50. B) $150. C) $350. D) $400.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Brock's consumer surplus is the difference between what he is willing to pay and what he actually pays, which is $400 - $350 = $50. Therefore, the correct answer is A) $50.

Brock Is Willing to Pay $400 for a New Suit,but