Demand, Supply and Markets > Basic Skills

Consumer Surplus

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

Question 1

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?
Solution 1

Question 2

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?
Solution 2
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Peter J Wilcoxen, The Maxwell School, Syracuse University
Revised 08/17/2016