Microeconomics
If the demand curve is linear and the market price is \$3, with a maximum willingness to pay of \$9 and a quantity of 5, what is the consumer surplus?
If a consumer is willing to pay \$30 for a meal but pays \$20, what is the consumer surplus?
What does the area under the demand curve represent?
Which of the following best describes willingness to pay?
What does the demand curve indicate about marginal benefit?
How does a decrease in market price affect consumer surplus?
How might a significant decrease in consumer surplus influence consumer behavior in a market?
If the demand curve is linear and the market price is \$4, with a maximum willingness to pay of \$10 and a quantity of 6, what is the consumer surplus?
What is consumer surplus?
A consumer is willing to pay \$40 for a pair of shoes but buys them for \$25. What is the consumer surplus?
