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Alexis, Bruno, and Camila each want an ice-cream cone. Alexis is willing to pay $12, Bruno is willing to pay $8, and Camila is willing to pay $4. The market price is $6. Consumer surplus equals a. $6. b. $8. c. $14. d. $18.

Chapter 7, Problem 1

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QUESTION:

Alexis, Bruno, and Camila each want an ice cream cone. Alexis is willing to pay $12, Bruno is willing to pay $8, and Camila is willing to pay $4. The market price is $6. Consumer surplus equals

a. $6.

b. $8.

c. $14.

d. $18.

Questions & Answers

QUESTION:

Alexis, Bruno, and Camila each want an ice cream cone. Alexis is willing to pay $12, Bruno is willing to pay $8, and Camila is willing to pay $4. The market price is $6. Consumer surplus equals

a. $6.

b. $8.

c. $14.

d. $18.

ANSWER:

Step 1 of 2

Consumer surplus: Consumer surplus means the consumer is willing and able to pay for the goods and services relative to their market price at the given period.

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