Consumer Surplus Economics?
Sunday, June 14th, 2009
bugga716 asked:
Consider the market for antique cars. The market price for each antique car is $120,000. Assume that all buyers demand only one car.
Consider the market for antique cars. The market price for each antique car is $120,000. Assume that all buyers demand only one car.
1.3. Jill is a consumer with a willingness to pay of $120,000. Given the market price, how much consumer surplus does she receive from purchasing an antique car?
A. $120,000
B. $200,000
C. $40,000
D. $80,000
E. $0
Jessica
