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Economics (AS & A Level) · Oct / Nov 2023 · Paper 12 · Question 7

9708Consumer and producer surplus

A family is willing to pay a maximum of $600, $500 and $400 for air tickets for the mother, father and daughter to attend a wedding in another city. The airline announces a promotional air fare of $450 per ticket, provided at least three tickets are purchased. What will be the consumer surplus gained by the family if they use the promotional offer?

  1. A$100
  2. B$150
  3. C$200
  4. D$250

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Correct answer: B. $150

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