Question

The table to the right lists the highest prices five consumers are willing to pay for a theater ticket. If the price of one of the tickets is $10 Willingness to Pay $24 O A. Celeste's consumer surplus is $25. OB. the total consumer surplus from the purchase of tickets will be $61. O C. everyone will buy a ticket except for Esther OD. only Anya and Basil will buy tickets. Consumer Anya Basil Celeste Dralon Esther 17

Answer 1

In simple terms the consumer surplus is difference that a consumer pays actually and what his willingness to pay.

the consumer surplus is said to be occur only when willingness to pay is more than the consumer actual paymesnt in the market price

? Here market/actual price = $10 ICS = Actral price - Willingness to say ! for Cs to happen they [Hillergnes to pay> actual pay) So; B. Esther will not consider in Calcelahan of is because it for his willingness to pay is less than actual keay (7<10) So Netes= (24-10)+(2010) + (15-16)+(12-10) = 14tlot 5+2 Netis = $311