Question 1
What is consumer surplus?
Question 2
If a consumer is willing to pay $15$ for a book and buys it for $9$, what is the consumer surplus?
Question 3
On a demand diagram, consumer surplus is the area between which two curves or lines?
Question 4
Why does consumer surplus usually fall when the price of a good rises, assuming demand does not change?
Question 5
Which situation would most likely increase consumer surplus in a market?
