1. Suppose you just purchased a violin and realized you ended up with a consumer surplus. You tell your friend about it and explain that the consumer surplus arose because

a. the price you were willing to pay was less than the market price.

b. the price you were willing to pay was more than the market price.

c. the price you were willing to pay was the equilibrium price.

d. you were willing to pay the market price, but the equilibrium price was lower.

e. the price you were willing to pay was equal to both the violin’s market price and equilibrium price.