If Debbye Is Willing to Pay $50 for a Pair

question 96

Multiple Choice

If Debbye is willing to pay $50 for a pair of shoes but only has to pay $20 because the shoes are on sale, then her consumer surplus on that pair of shoes is

• A)$50
• B)$20
• C)$70
• D)$30
• E)$25

---

Definitions:

Revenue Function

A mathematical function explaining how revenues are generated from sales at different prices.

Fixed Cost

Expenses that do not change with the level of goods or services produced over the short term.

Expense Function

A mathematical representation or formula used to calculate the total expenses incurred by a business or individual.

Demand Function

A mathematical formula representing the relationship between the quantity demanded of a good and its affecting factors such as price, income, and preferences.