If you are willing to pay $8 for a $6 burrito, what is your consumer surplus if you buy it?
A) $8
B) $2
C) $0
D) $6

Question

Quizplus · Accepted Answer

Consumer surplus is the difference between the amount a consumer is willing to pay and the actual price paid. In this case, the consumer is willing to pay $8 but only needs to pay $6. Therefore, the consumer surplus is $2 (which is the difference between $8 and $6). The correct choice is B.

If You Are Willing to Pay $8 for a $6