True or false Suppose Anna's maximum willingness to pay for a coat is $50. The price...
True or false
Suppose Anna's maximum willingness to pay for a coat is $50. The price of the coat is $60. Thus she would receive a $10 consumer surplus if she purchased the coat.
Homework Answers
False
Explanation:
Consumer surplus = Consumer williness to pay - price of the good
Consumer surplus = 50-60 = -10
So consumer surplus = -$10
So this statement is false.
Add Answer to:
True or false
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