Mark, Danny, Kristin and Ruthie all love to ski at the local ski resort on weekends. Mark is the most avid skier and places a value of $85 on his weekend skiing. Danny, Kristin and Ruthie place values of $75, $65 and $40, respectively, on their weekend skiing experience. Assume that the price of a weekend ski pass is $38. Further assume that this price reflects the actual unit cost of providing a weekend of skiing.
-According to the information provided, how much consumer surplus accrues to Mark and Kristin individually?

Question

Quizplus · Accepted Answer

Consumer surplus is the difference between the value a consumer places on a good or service and the price they paid for it.

For Mark: 
Consumer surplus = $85 - $38 = $47

For Kristin: 
Consumer surplus = $65 - $38 = $27

Therefore, the correct answer is A.

Mark, Danny, Kristin and Ruthie All Love to Ski at the Local