-Table 5-4 shows the demand schedule for concert tickets for a particular consumer.What will be this consumer's surplus if the price of tickets is $50?

Question

Quizplus · Accepted Answer

Consumer surplus is calculated as the difference between what consumers are willing to pay and what they actually pay. If the consumer's willingness to pay for each ticket is higher than $50, the surplus is the sum of these differences.

-Table 5-4 Shows the Demand Schedule for Concert Tickets for a Particular