Suppose the Market Equilibrium Price of Widgets Is $10 Total Consumer Surplus Is
A)$20
B)$17
C)$14
D)$2

question 7

Multiple Choice

Suppose the market equilibrium price of widgets is $10.The following table lists the willingness to pay for the four consumers in the market. $$\begin{array} { | c | c | } \hline \text { Consumer } & \text { Willingness ta Pay } \\\hline 1 ^ { \text {st } } & \$ 18 \\\hline 2 ^ { \text {nd } } & \$ 16 \\\hline 3 ^ { \text {rd } } & \$ 14 \\\hline 4 ^ { \text {th } } & \$ 12 \\\hline\end{array}$$ Total consumer surplus is

• A)$20
• B)$17
• C)$14
• D)$2

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