You enter a store and buy a bottle of soda.Do you usually receive consumer surplus?
A) Yes, because you wouldn't buy the soda if your willingness to pay would be less than the price.
B) Yes, because you are thirsty.
C) No, because you value other drinks more.
D) No, because you have less money after the transaction.

Question

Quizplus · Accepted Answer

Consumer surplus is the difference between the price that the consumer pays and the maximum amount that they are willing to pay. If the consumer's willingness to pay for the soda is higher than the price, then they will receive consumer surplus. Therefore, if the consumer buys the soda, they are receiving consumer surplus.

You Enter a Store and Buy a Bottle of Soda