(Figure: Willingness to Pay) The price is $15. In the table, what is the total consumer surplus for the three women?
$\begin{array}{|l|l|}
\hline \text { Buyer } & \text { Willingness to Pay } \
\hline \text { Mabel } & \$ 13 \
\hline \text { Hazel } & \$ 24 \
\hline \text { Antoinette } & \$ 20 \
\hline
\end{array}$

Question

(Figure: Willingness to Pay) The price is $15. In the table, what is the total consumer surplus for the three women?
 $\begin{array}{|l|l|}
\hline \text { Buyer } & \text { Willingness to Pay } \
\hline \text { Mabel } & \$ 13 \
\hline \text { Hazel } & \$ 24 \
\hline \text { Antoinette } & \$ 20 \
\hline
\end{array}$

Quizplus · Accepted Answer

Consumer surplus is calculated as the difference between willingness to pay and the actual price. Hazel's surplus is $9 ($24 - $15), and Antoinette's surplus is $5 ($20 - $15). Mabel does not purchase as her willingness to pay is less than the price. Total surplus is $9 + $5 = $14.

(Figure: Willingness to Pay) the Price Is $15 A) $14 B) $15 C) $16 D) $29

(Figure: Willingness to Pay) the Price Is $15 A) $14
B) $15
C) $16
D) $29