Question
Charlie is willing to pay $14 for a t-shirt that is priced at $11. If Charlies buys the t-shirt, then his consumer surplus is A.
Charlie is willing to pay $14 for a t-shirt that is priced at $11. If Charlies buys the t-shirt, then his consumer surplus is
A. $25
B. $154
C. $14
D. more than $11
E. $3
Charlie is the consumer that is willing to pay $14 for the t-shirt but he only pays $11 so his surplus is $3. 14-11= $3. Correct?
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International Business
Authors: John Daniels, Lee Radebaugh, Daniel Sullivan
16th edition
134200055, 978-0134201542, 013420154X, 978-0134200057
