Using the information below about individuals and their willingness to pay for a bottle of ginger ale
Question
Using the information below about individuals and their willingness to pay for a bottle of ginger ale, calculate
the total consumer surplus at a market price of $5.
| Maximum amount a buyer would pay for ginger ale | |
| Scott | $10 |
| Dennis | $4 |
| Greg | $8 |
| Dave | $7 |
| Mike | $5 |
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