Denise values a stainless steel dishwasher for her new house at $500,but she succeeds in buying one for $350.Denise's consumer surplus is

Question

Quizplus · Accepted Answer

Consumer surplus is the difference between the maximum price a consumer is willing to pay for a good and the actual price paid. In this case, Denise values the dishwasher at $500 but only has to pay $350 for it, so her consumer surplus is $150 ($500 - $350). The other answer choices are incorrect as they either overestimate or underestimate the consumer surplus.

Denise Values a Stainless Steel Dishwasher for Her New House