Amy buys a new dog for $150. She receives consumer surplus of $100 on her purchase. Her willingness to pay is:

Name: Amy buys a new dog for $150. She receives consumer surplus of $100 on her purchase. Her willingness to pay is:
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Consumer surplus is the difference between what a consumer is willing to pay and what they actually pay. If Amy's consumer surplus is $100 and she paid $150, her willingness to pay is $150 + $100 = $250.

Amy Buys a New Dog for $150