Question

Vonda and aleiyah are shopping together at the mall for new jeans. vonda is willing to pay $90 and aleiyah is willing to pay $50 for a pair of jeans. if the price of jeans is $59, how much total consumer surplus is achieved in this market?

Answer 1

The total consumer surplus in this market is $31.

Step-by-step explanation:

In this scenario, Vonda is willing to pay $90 and Aleiyah is willing to pay $50 for a pair of jeans. The price of jeans is $59. To calculate the consumer surplus, we subtract the price that consumers are willing to pay from the actual price of the jeans. For Vonda, the consumer surplus is $90 - $59 = $31. For Aleiyah, the consumer surplus is $50 - $59 = -$9. Since consumer surplus cannot be negative, we take it as $0. Therefore, the total consumer surplus in this market is $31 + $0 = $31.

Answer 2

a lot of total consumer BC the price is fair to their prices