Question

(Problem 1b.) Determine the amount of consumer surplus generated in the following situation. Alberto goes to the CD store hoping to find a used copy of Nirvana's Nevermind for up to $30. The store has one copy selling for $30, which he purchases. The amount of Alberto's consumer surplus is _____. $2.50 $30 $0 $5

Answer 1

Answer:

$0

Explanation:

Consumer surplus is the difference between the willingness to pay of a consumer and the price of the product.

Consumer surplus = willingness to pay - price

$30 - $30 = $0

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