Jackie finds a pair of jeans that she likes but the price tag is missing. She is willing to buy it as long as it's not more than $100. The cashier informs Jackie that the price is $72. Jackie buys the jeans, and therefore achieved a consumer surplus of:

Question

Business

Gwendolyn

15 December, 13:53

Jackie finds a pair of jeans that she likes but the price tag is missing. She is willing to buy it as long as it's not more than $100. The cashier informs Jackie that the price is $72. Jackie buys the jeans, and therefore achieved a consumer surplus of:

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Answers (1)

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Ivan Fields · Answer 1

It's a consumer surplus of $28.

Explanation:

Consumer surplus is the difference between the price costumers pay in the market and the price they place on the product.

In other words, the difference between a market price product and the price you think it is.