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Which scenario below is an example of consumer surplus? George is willing to pay up to $20,000 for a car, but he finds one he
Which scenario below is an example of consumer surplus?
- George is willing to pay up to $20,000 for a car, but he finds one he likes for $15,000.
- Tom usually charges $75/hour but in certain cases is willing to go as low as $65/hour.
- A grocery store that usually charges $7/pound for beef is willing to lower the price to $5/pound when a huge shipment comes in.
- A car dealership sells exactly as many cars as it has in stock.
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