Consumer surplus arises in a market because:
a. at the market price, quantity supplied is greater than quantity demanded
b. at the current market price, quantity demanded is greater than quantity supplied.
c. some consumers are willing to pay more than the equilibrium price but do not need to do so.
d. some consumers are willing to pay less than the equilibrium price but do not need to do so.

Jose recently died with a probate estate of $900,000. he was predeceased by his wife, guadalupe, and his daughter, lucy. he has two surviving children, pete and fred. jose was also survived by eight grandchildren, pete’s three children, naomi, daniel, nick; fred’s three children, heather, chris and steve; and lucy’s two children, david and rachel. jose’s will states the following “i leave everything to my three children. if any of my children shall predecease me then i leave their share to their heirs, per stirpes.” which of the following statements is correct? (a) under jose’s will rachel will receive $150,000. (b) under jose’s will chris will receive $150,000. (c) under jose’s will nick will receive $100,000. (d) under jose’s will pete will receive $200,000.