Question

Bob purchases a book for $6, and his consumer surplus is $2. How much is Bob willing to pay for the book?

A) 6
B) 2
C) 4
D) 8

Answer 1

Bob's consumer surplus is $2. Therefore, Bob is willing to pay $8 for the book.

Step-by-step explanation:

Bob's consumer surplus is the difference between what he is willing to pay for the book and the actual price he paid. In this case, Bob's consumer surplus is $2, which means he is willing to pay $2 more than the price of the book.

Therefore, the price Bob is willing to pay for the book is the actual price plus the consumer surplus, which is $6 + $2 = $8.

So, the correct answer is D) 8.