-Refer to Figure 5-1. If the market price is $1.00, what is Arnold's consumer surplus?

Name: -Refer to Figure 5-1. If the market price is $1.00, what is Arnold's consumer surplus?
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Consumer surplus is the difference between what a consumer is willing to pay and what they actually pay. If Arnold's willingness to pay is higher than the market price of $1.00, the surplus is the area above the price and below the demand curve. Without the figure, we assume the surplus is $6.00 based on the given options.