Joel has a 1966 Mustang, which he sells to Susie, an avid car collector. Susie is pleased since she paid $8,000 for the car but would have been willing to pay $11,000 for the car. Susie's consumer surplus is $2,000.

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Karsen Mosbrucker · Accepted Answer

Final Answer : False, Explanation :  Susie's consumer surplus is $3,000 because it is the difference between the maximum amount she was willing to pay ($11,000) and the actual amount she paid ($8,000).

Joel has a 1966 Mustang, which he sells to Susie, an avid car collector. Susie is pleased since she paid $8,000 for the car but would have been willing to pay $11,000 for the car. Susie's consumer surplus is $2,000.

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