Consumer Surplus

Related Topics

Wize University Microeconomics Textbook > Efficiency

Consumer Surplus

3 Activities

A house in the most desirable section of town is listed for sale at a price of $345,000. Diane and her husband agree that they will pay no more than $340,000. Their bid is accepted at $339,500 and they purchase the house. They obtain a consumer surplus of

More Consumer Surplus Questions:

Suppose there is a downward sloping demand curve for chocolate and at a price of $5 the quantity demanded is 200 chocolates. When the price rises to $6, what will happen to consumer surplus?

Practice: Consumer Surplus

When the price of a milkshake is $8 the quantity demanded is 100 units. If the price rises to $9, the consumer surplus will: 

Practice: Market Efficiency Advanced

The chart below shows the market for frog's legs. 
The equilibrium point is 80 pounds at price of $15 per pound. Suppliers want to raise the price to $18 per pound which will also reduce the quantity in pounds. 