If a consumer plans to spend 120k on four oranges but spent 80k, his consumer surplus is
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Correct Answer: Option B
Explanation:
Consumer Surplus is the difference between the price that consumers pay and the price that they are willing to pay.Â
consumer surplus = 120 - 80 = 40
Consumer Surplus is the difference between the price that consumers pay and the price that they are willing to pay.Â
consumer surplus = 120 - 80 = 40