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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 1
Problem 1
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?
A
\$15
B
\$6
C
\$12
D
\$18
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