Select the example below that corresponds to consumer surplus. The price of gold increases to $300 per ounce, so many people start selling their gold. Emily usually works as a babysitter for a price of $15 per hour but is willing to work for as low as $10 per hour. George is willing to spend up to $1,000 on a laptop but is able to find one for $500. The price of a house in a certain neighborhood is $300,000 for three bedrooms and two bathrooms. At this price, the market is clearing.
Select the example below that corresponds to consumer surplus. The price of gold increases to $300 per ounce, so many people start selling their gold. Emily usually works as a babysitter for a price of $15 per hour but is willing to work for as low as $10 per hour. George is willing to spend up to $1,000 on a laptop but is able to find one for $500. The price of a house in a certain neighborhood is $300,000 for three bedrooms and two bathrooms. At this price, the market is clearing.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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![Select the example below that corresponds to consumer surplus.
The price of gold increases to $300 per ounce, so many people start selling their gold.
Emily usually works as a babysitter for a price of $15 per hour but is willing to work for as low as
$10 per hour.
George is willing to spend up to $1,000 on a laptop but is able to find one for $500.
The price of a house in a certain neighborhood is $300,000 for three bedrooms and two
bathrooms. At this price, the market is clearing.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F4e725b02-9d54-4901-858b-ae8285fb0c7e%2F2e5626b4-907f-4986-bc9b-2867850e283d%2Fke6poa_processed.png&w=3840&q=75)
Transcribed Image Text:Select the example below that corresponds to consumer surplus.
The price of gold increases to $300 per ounce, so many people start selling their gold.
Emily usually works as a babysitter for a price of $15 per hour but is willing to work for as low as
$10 per hour.
George is willing to spend up to $1,000 on a laptop but is able to find one for $500.
The price of a house in a certain neighborhood is $300,000 for three bedrooms and two
bathrooms. At this price, the market is clearing.
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