A New Car Has a List Price of $45,000

question 86

Multiple Choice

A new car has a list price of $45,000. Harnit decided that he would pay no more than $42,000 for this car. He buys the car for $41,000. Harnit's consumer surplus is

• A) $45,000.
• B) $42,000.
• C) $4,000.
• D) $3,000.
• E) $1,000.

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Definitions:

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The perception of what a product or service is worth to a consumer versus the possible alternatives.

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