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if you are willing to pay usd 2 000 for a laptop with some specific performance level, but end up finding that exact laptop for usd 1 500, how much is the consumer surplus you are enjoying?

User Zebrafish
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1 Answer

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The consumer surplus in this case would be USD 500. It represents the difference between the maximum amount you were willing to pay (USD 2,000) and the actual price you paid (USD 1,500).

Consumer surplus is the benefit gained when a buyer pays less for a product than their maximum willingness to pay.

In this scenario, if you were willing to pay USD 2,000 for a laptop but found it for USD 1,500, your consumer surplus is USD 500.

This surplus reflects the value retained by paying less than your initial valuation, showcasing the economic gain and satisfaction derived from the purchase.

User Pete Baughman
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