5. Consumer and Producer Surplus; Price Ceilings and Floors
Consumer Surplus and Willingness to Pay
Multiple Choice
Multiple ChoiceKanye West is ready to create his next hit single. He knows that he is willing to pay up to $3,000 for a funky fresh rhyme, and that he will need a total of ten funky fresh rhymes to create his hit single. After rounding up his best ghostwriters, he summarized the following schedule. If Kanye values all funky-fresh rhymes equally, what is his maximum consumer surplus?
A
$6,000
B
$12,000
C
$24,000
D
$30,000
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