If a consumer plans to spend 120k on four oranges but spe...
If a consumer plans to spend 120k on four oranges but spent 80k, his consumer surplus is
N1.50
N0.40
N1.00
N2.00
Correct answer is B
Consumer Surplus is the difference between the price that consumers pay and the price that they are willing to pay.
consumer surplus = 120 - 80 = 40
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