if-a-consumer-buys-a-dvd-for-10-but-was-willing-to-pay-18-how-does-this-transact

Question

If a consumer buys a DVD for $$10 but was willing to pay 18$$, how does this transaction illustrate consumer surplus?

Accepted Answer

The consumer surplus is $8, representing the benefit gained from the purchase.

Answer

The consumer surplus is $18, representing the total willingness to pay.

Answer

The consumer surplus is $0, as the consumer paid the market price.

Answer

The consumer surplus is $10, representing the market price.

If a consumer buys a DVD for \$10 but was willing to pay \$18, how does this transaction illustrate consumer surplus?