Andre decides that he would pay as much as $3,000 for a new laptop computer. He buys the computer and realizes consumer surplus of $700. How much did Andre pay for his computer?

Question

Quizplus · Accepted Answer

Consumer surplus is the difference between what a consumer is willing to pay and what they actually pay. Andre was willing to pay $3,000 and realized a consumer surplus of $700, so he paid $3,000 - $700 = $2,300.

Andre Decides That He Would Pay as Much as $3,000