Given potential price is Rs.250 and the actual price is Rs.200. Find the consumer surplus.
a. 375
b. 175
c. 200
d. 50
Answers
Answered by
2
Answer:
c - 50rs
the potential means possible price is 250rs and actual price is 200rs
consumer surplus becomes rs.50
at rs.50 he wil be more satisfy with actual price
Answered by
0
Answer:
d. 50
Explanation:
Potential price = Rs. 250
Actual price = Rs. 200.
Consumer surplus is described as the difference between the complete quantity customers are prepared to pay for a good or service as stated by curve of supply and the complete amount they actually pay which is the market price.
Therefore,
Consumer surplus = Maximum price – actual price
= 250- 200
= 50
Thus, the the consumer surplus is Rs. 50
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