Suppose there are only three consumers in the market for a good and each consumer will buy only one unit of the good. their individual economic values for the good are $26, $28, and $32, respectively. if the market price for the good is $26, what is the total consumer surplus for the three buyers?

$8

Explanation:

consumer surplus refers to the difference between what a consumer is willing and able to pay for a good or service, and the actual price of the good or service.

In this case, all 3 consumers are willing and able to pay $26 for the good.

total consumer surplus = ($26 - $26) + ($28 - $26) + ($32 - $26) = $0 + $2 + $6 = $8

years agooo ahaha. but honestly they need to update ! : )

the correct answer is economics is a game without winners or losers.

unlike sports or games economic is a game without losers or winner rather it is a game where everyone wins. parties of business doing businesses exchange money with each other and hence exchange is done on the basis of goods. one party takes the goods and other sales it so there is winner on both sides. each party values more highly the good it gets than the good it gives up. both sides exchange only because both intend to increase their value. so there is no concept of lose or win.