# 1. Consumer Surplus Suppose a consumer would be willing to pay \$6 for the first cup of coffee of the day, \$5 for the second cup, \$4 for the third cup…

1.     Consumer Surplus

Suppose a consumer would be willing to pay \$6 for the first cup of coffee of the day, \$5 for the second cup, \$4 for the third cup and \$3 for the fourth cup, \$2 for the fifth cup…

If the price of a cup of coffee is \$3 per cup, how many cups will the consumer buy in a day? ___________________

On the first cup, this consumer earns \$3 in “surplus” because she is willing to pay \$6 but only pay \$3 for the cup

What surplus is earned on the 2nd cup?________________

…the third cup? ___________________

…the fourth cup? __________________

Given that cups are only being consumed in who # units, what is the total surplus this consumer earns on her purchase of 4 cups of coffee per day? ___________________

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