Table 6.7
$$\begin{array} { | c | c | }
\hline \text { Frice per Fiece } ( \$ ) & \text { Quantity } \
\hline 8 & 0 \
\hline 7 & 1 \
\hline 6 & 2 \
\hline 5 & 3 \
\hline 4 & 4 \
\hline 3 & 5 \
\hline 2 & 6 \
\hline 1 & 7 \
\hline
\end{array}$$
-Refer to Table 6.7,which shows Ethan's demand for sushi at various prices.When the price is $4,the consumer surplus is $_____
A)5.
B)6.
C)10.
D)25.
E)30.

Question

Table 6.7
 $$\begin{array} { | c | c | } 
\hline \text { Frice per Fiece } ( \$ ) & \text { Quantity } \
\hline 8 & 0 \
\hline 7 & 1 \
\hline 6 & 2 \
\hline 5 & 3 \
\hline 4 & 4 \
\hline 3 & 5 \
\hline 2 & 6 \
\hline 1 & 7 \
\hline
\end{array}$$
-Refer to Table 6.7,which shows Ethan's demand for sushi at various prices.When the price is $4,the consumer surplus is $_____
A)5.
B)6.
C)10.
D)25.
E)30.

Quizplus · Accepted Answer

Consumer surplus is the difference between the maximum amount a consumer is willing to pay for a good and the actual amount they pay. In this case, when the price is $4, Ethan is willing to pay up to $8 for the first piece of sushi. Therefore, his consumer surplus is the difference between the maximum amount he is willing to pay ($8) and the actual price he pays ($4), which is $4.

Table 67 -Refer to Table 6