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Hugo decides to buy his Christmas gifts on Black Friday. To simplify his life, he is giving his 10 closest friends scarves for Christmas and everyone else Christmas cards. Hugo is willing to spend $200 on the 10 scarves. When he arrives at Macy’s at 5:00 A.M. on Black Friday, he discovers that scarves are on sale for $12 each. Hugo buys 10 scarves and uses the remaining $80 to buy himself a some clothes. How much consumer surplus did Hugo receive from the tenth scarf he purchased?

Respuesta :

Answer:

$8

Explanation:

Consumer surplus is the difference between the willingness to pay of a consumer and the price of the product.

Consumer surplus = willingness to pay - price

The consumer surplus of the 10th scarf :

Willingness to pay for the 10th scarf - price of the scarf

Willingness to pay for the 10th scarf =  $200 / 10 = $20

Consumer surplus = $20 - $12 = $8

I hope my answer helps you

The consumer surplus did Hugo collected from the tenth scarf he buy is $8

What is consumer surplus?

Consumer surplus means the surplus that shows the difference between the maximum price that customer paid for the item with the actual price he should willing to pay it.

So, here the consumer surplus should be

= maximum price - actual price

= ($200/10) - $12

= $20 - $12

= $8

Thus, we can conclude that Hugo receives $8 as consumer surplus

 

Learn more about surplus here: https://brainly.com/question/18281058

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