Maria goes shopping for wedding shoes and is willing to pay $50. She pays only $20 because the shoes she wants are on sale. Does she gets a consumer surplus? If so,how much?

Question

Quizplus · Accepted Answer

Consumer surplus is the difference between what a consumer is willing to pay and what they actually pay. Maria was willing to pay $50 but paid $20, so her consumer surplus is $30 ($50 - $20).

Maria Goes Shopping for Wedding Shoes and Is Willing to Pay