Determine the amount of consumer surplus generated in the following situation. After soccer practice, Stacey is willing to pay $2 for a bottle of mineral water. The 7Eleven sells mineral water for $2.25 per bottle, so she declines to purchase it. a. The Consumer surplus of 5-10=$5 b ... Determine the amount of producer surplus generated in each of the following situations.

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Business

Mckinley Mcgee

10 February, 09:25

Determine the amount of consumer surplus generated in the following situation. After soccer practice, Stacey is willing to pay $2 for a bottle of mineral water. The 7Eleven sells mineral water for $2.25 per bottle, so she declines to purchase it. a. The Consumer surplus of 5-10=$5 b ... Determine the amount of producer surplus generated in each of the following situations.

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Answers (1)

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Kane Wheeler · Answer 1

The answer is: There was no consumer surplus in this situation.

Explanation:

consumer surplus refers to the difference between the maximum amount a consumer is willing to pay for a good or service and the actual price of the good or service.

In this case there was no consumer surplus, since Stacey was willing to pay only $2 for a bottle of mineral water and its price was $2.25, so she didn't buy it.