If you’re willing to pay $3.30 per pound of asparagus purchased at the grocery s

Question

If you’re willing to pay $3.30 per pound of asparagus purchased at the grocery store but are required to pay only $2.65, you have gained consumer surplus.
Part2 What is the actual amount of the difference between what you paid and what you would have paid ? $______ cept Check 44% ?07/21/18 02 Question (2 points) 4th attempt Part 1 (1 point) O See Hint If you are willing to pay $3.30 per pound of asparagus purchased at the grocery store but are required to pay only S2.65, you have gained consumer Part 2 (1 point) See Hint What is the actual amount of the difference between what you paid and what you would have paid?S

Explanation / Answer

$0.65 ( $3.30-$2.65).

Consumer surplus is the area below demand curve and above market price. It is the difference between what consumers are willing to pay and what they actually pay.

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