Marco goes to the pet store to buy a dozen Koi fish for his new Koi pond.He is willing to pay $200 for the dozen fish,but buys them for a total of $140.Marco's consumer surplus from the purchase is

Question

Quizplus · Accepted Answer

Consumer surplus is the difference between what a consumer is willing to pay for a product and what they actually pay. In this case, Marco was willing to pay $200 for a dozen Koi fish but he only paid $140, so his consumer surplus is $60. Choice B is the correct answer.

Marco Goes to the Pet Store to Buy a Dozen