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Aisha is willing to spend $60 for a haircut. If she finds a salon where the price of a haircut is only $45, she will receive ______ in consumer surplus from this transaction.1 point$15$60$45$0

Question

Aisha is willing to spend 60forahaircut.Ifshefindsasalonwherethepriceofahaircutisonly60 for a haircut. If she finds a salon where the price of a haircut is only 45, she will receive ______ in consumer surplus from this transaction.1 point15156045450

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Solution

Aisha is willing to spend 60forahaircut,butshefindsasalonwherethepriceofahaircutisonly60 for a haircut, but she finds a salon where the price of a haircut is only 45. The consumer surplus is the difference between what she is willing to pay and what she actually pays.

Step 1: Identify the amount Aisha is willing to pay. This is $60.

Step 2: Identify the amount Aisha actually pays. This is $45.

Step 3: Subtract the amount Aisha actually pays from the amount she is willing to pay.

60(willingtopay)60 (willing to pay) - 45 (actual payment) = $15

So, Aisha will receive $15 in consumer surplus from this transaction.

This problem has been solved

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