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Consumer Surplus and Willingness to Pay
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Consumer Surplus and Willingness to Pay
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5. Consumer and Producer Surplus; Price Ceilings and Floors / Consumer Surplus and Willingness to Pay / Problem 2
Problem 2
If a consumer is willing to pay \$30 for a meal but pays \$20, what is the consumer surplus?
A
\$20
B
\$10
C
\$0
D
\$30
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