Suppose That a Customer's Willingness-To-Pay for a Product Is $5

question 301

Multiple Choice

Suppose that a customer's willingness-to-pay for a product is $5, and the seller's willingness-to-sell is $4. If the negotiated price is $3, how much is consumer surplus?

• A) $1
• B) $2
• C) $5
• D) $8

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