Suppose the actual price for good a is $20. john is willing to pay $30, susie is willing to pay $28, joseph is willing to pay $25, jessica is willing to pay $23, and jeremy is willing to pay $21. what is total consumer surplus?

Total consumer surplus is $27

We calculate Consumer Surplus as follows:

We calculate Consumer Surplus for each person

Person                 Price Willing      Actual Price               Consumer Surplus

John                          30                      20                              

Susie                         28                      20                      

Joseph                      25                      20                      

Jessica                      23                     20                        

Jeremy                      21                      20                        

Total   Consumer Surplus                                                                27        

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