$29 will be their consumer surplus.
Consumer surplus is the difference between how much a consumer is willing to pay and how much a consumer actually does pay.
$12.00 + $15.00 + $23.00 = $50.00 (How much the consumer actually pays)
$23.00 + $26.00 + $30.00 = $79.00 (How much the consumer is willing to pay)
$79.00 - $50.00 = $29.00 (Consumer surplus)
A.In Step 2, 90 should be multiplied by the quantity 10 – 12, not by 10.
correct:
90(10 - 12) = 90 · 10 - 90 · 12 or 90(10 - 12) = 90 · (-2)
It called a (tangent)
Thank you have good day ;)
Hey! I've had the same quiz earlier and these answers below are correct. Hope this helps you out and have a great day :)