Determine the Amount of Consumer Surplus Generated in Each of the Following

Essay

Determine the amount of consumer surplus generated in each of the following situations.
a.Mary goes to the drugstore,where she is willing to pay up to $10 for a bottle of nail polish.She picks out one that she likes with a price of $9.99.When she is paying for it,she learns that the product has been discounted by 50 percent.
b.Mike goes to the used book store hoping to find a paperback copy of the Hunger Games for up to $10.The store has one copy selling for $10,which he purchases.
c.After dance rehearsal,Julie is willing to pay $2 for a bottle of mineral water.The corner store sells mineral water for $2.25 per bottle,so she declines to purchase it.