Scenario 12-2
Suppose Roger and Regina receive great satisfaction from their consumption of cheesecake. Regina would be willing to purchase only one slice and would pay up to $8 for it. Roger would be willing to pay $11 for his first slice, $9 for his second slice, and $5 for his third slice. The current market price is $5 per slice.
-Refer to Scenario 12-2.How much total consumer surplus do Regina and Roger collectively receive from consuming cheesecake?
A) $3
B) $6
C) $9
D) $13

Question

Quizplus · Accepted Answer

Regina's consumer surplus is $3 ($8 - $5), and Roger's consumer surplus is $6 ($11 + $9 + $5 - 3*$5). Their total consumer surplus is $3 + $6 = $9.

Scenario 12-2 Suppose Roger and Regina Receive Great Satisfaction from Their Consumption