Answer to Question #106176 in Microeconomics for gomo

Question

Jeff decides that he would pay as much as R3 000 for a new laptop computer. He buys the
computer and realises consumer surplus of R700. How much did Jeff pay for his
computer?

Answer 1

Consumer surplus is the difference between the price that consumer pay and the price that they are willing to pay. 

Therefore the price of the computer is

R3000-R700

= R2300