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Brett buys a new cell phone for $100. He receives consumer surplus of $80 from the purchase...?
Brett buys a new cell phone for $100. He receives consumer surplus of $80 from the purchase. How much does Brett value his cell phone?
A) $180
B) $100
C) $80
D) $20
2 Answers
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- Sipra MLv 610 years agoFavorite Answer
Consumer surplus = consumer ready to pay - consumer actually pays.
Given: Brett pays $100 and surplus is $80 it means he was ready to pay $180. Brett value his cell phone $180.
- Anonymous10 years ago
D
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