Use the following to answer questions:
-(Table: Consumer Surplus) Look at the table Consumer Surplus. Assume that each student wants to buy one ticket. If the price of a ticket to see The Nutty Nutcracker is $75, Miguel's consumer surplus is:
A) $60.
B) $50.
C) $15.
D) $240.

Question

Use the following to answer questions: 
-(Table: Consumer Surplus) Look at the table Consumer Surplus. Assume that each student wants to buy one ticket. If the price of a ticket to see The Nutty Nutcracker is $75, Miguel's consumer surplus is:
A) $60. 
B) $50. 
C) $15. 
D) $240.

Quizplus · Accepted Answer

Miguel's willingness to pay is $90, and the ticket price is $75, so his consumer surplus is $90 - $75 = $15.

Use the Following to Answer Questions