Gayle decides that she would pay as much as $3000 for a new laptop computer. She buys the computer and realises a consumer surplus of $700. How much did Gayle pay for her computer?

Question

Quizplus · Accepted Answer

Consumer surplus is the difference between what a consumer is willing to pay for a good or service and what they actually paid. In this case, Gayle was willing to pay $3000 for the laptop and received a consumer surplus of $700. Therefore, the total cost of the laptop must be $3000 - $700 = $2300. Hence, Gayle paid $2300 for her computer, which is answer B.

Gayle Decides That She Would Pay as Much as $3000