The Maxwell School

Syracuse University

Syracuse University

Here are some practice problems that involve calculating consumer surplus. You can check your work via the solution link below each one.

An individual's willingness to pay for a product is given by the equation:

W2P = 140 - 2*Q

If the price of the good is $40, how many units would she buy and what would be her consumer surplus?
Suppose 10 people are interested in buying a particular product. Each person's willingness to pay for the product is given by:

W2P = 72 - 6*Q

If the price of the product is $12, what is the total consumer surplus received by the group?
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URL: https://wilcoxen.maxwell.insightworks.com/pages/1024.html

Peter J Wilcoxen, The Maxwell School, Syracuse University

Revised 08/17/2016

URL: https://wilcoxen.maxwell.insightworks.com/pages/1024.html

Peter J Wilcoxen, The Maxwell School, Syracuse University

Revised 08/17/2016