Microeconomics: Principles, Problems, & Policies, 20th Edition

by McConnell, Campbell; Brue, Stanley; Flynn, Sean

Published by McGraw-Hill Education

ISBN 10: 0077660811

ISBN 13: 978-0-07766-081-9

Chapter 4 - Market Failures: Public Goods and Externalities - Problems - Page 106: 1

Answer

The value of Consumer surplus is $ 3.

Work Step by Step

Calculations of Consumer Surplus : Consumer Surplus =(Maximum price willing ) - (actual price) = (13-11) + (12-11) = $3

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