Charlie is willing to pay $10 for a t-shirt that is priced at $9. If charlie buys the t-shirt, then his consumer surplus is.

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04-02-2022
Business

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Charlie is willing to pay $10 for a t-shirt that is priced at $9. If charlie buys the t-shirt, then his consumer surplus is.

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Ayokenny2001idn Ayokenny2001idn · Answer 1 · 2022-02-14T07:12:39-05:00

The consumer surplus for Charlie would be $1 if he buys the t-shirt,

What is consumer surplus?

The term consumer surplus is associated with the difference between the prices that a consumer is willing to pay to buy a particular product and its market price. It is also abbreviated as CS.

Consumer surplus(CS) is computed as:

CS = Consumer's willingness to pay - Market Price

CS = $10 - $9

CS = $1

Therefore, the consumer surplus for Charlie would be $1.

Learn more about consumer surplus here : https://brainly.com/question/26371626

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What is consumer surplus?

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