What is the change in total consumer surplus

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Reference no: EM133761690

Question: Amazon has a "Lightning Deal" where it slashes the price of one item. At 3:15 p.m. today. they announced that the item was a V new tablet with a sales price of $200 which is less than half the original price.

The table contains the maximum willingness to pay of live college students wanting to buy a tablet on Amazon.

Student            Willingness to pay
Anthony                  $500
Amanda                   $400
Lily                         $300
Francisco                 $200
Max                         $100

What is total consumer surplus for the five students?

If the price increases from $200 to $400. what is the change in total consumer surplus?

Reference no: EM133761690

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