Trusted by Students Everywhere
Why Choose Us?
0% AI Guarantee
Human-written only.
24/7 Support
Anytime, anywhere.
Plagiarism Free
100% Original.
Expert Tutors
Masters & PhDs.
100% Confidential
Your privacy matters.
On-Time Delivery
Never miss a deadline.
Kate is willing to pay $12,000 a year in college tuition, but the market price for the courses she wants to take is only $8,000 a year
Kate is willing to pay $12,000 a year in college tuition, but the market price for the courses she wants to take is only $8,000 a year.
Her consumer surplus will be _________ over the course of one year.
Expert Solution
Computation of Consumer Surplus:
Given,
Willingness to Pay for College Tuition = $12,000
Actual Pay = $8,000
So,
Consumer Surplus = 12000 - 8000 = $4,000
So, Her consumer surplus will be $4,000 over the course of one year.
Archived Solution
Unlocked Solution
You have full access to this solution. To save a copy with all formatting and attachments, use the button below.
Already a member? Sign In
Important Note:
This solution is from our archive and has been purchased by others. Submitting it as-is may trigger plagiarism detection. Use it for reference only.
For ready-to-submit work, please order a fresh solution below.
For ready-to-submit work, please order a fresh solution below.
Or get 100% fresh solution
Get Custom Quote
