Lucinda buys a new GPS system for $250. She receives consumer surplus of $75 from the purchase. How much does Lucinda value her GPS system?

Name: Lucinda buys a new GPS system for $250. She receives consumer surplus of $75 from the purchase. How much does Lucinda value her GPS system?
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Lucinda's valuation of the GPS system is the sum of the price she paid ($250) and her consumer surplus ($75), which totals $325.

Lucinda Buys a New GPS System for $250