-Refer to Figure 5-3. What is the value of consumer surplus at a price of $18?

Name: -Refer to Figure 5-3. What is the value of consumer surplus at a price of $18?
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Consumer surplus is the difference between the price consumers are willing to pay for a good and the price they actually pay. At a price of $18, consumers are willing to pay $24 for the good, so the consumer surplus is $6.