Consumer surplus practice problems

Microeconomics Unit 2. Try each one, then open the worked solution. The Credit Sprint app generates unlimited new versions with fresh numbers.

Problem 1.

Demand is P = 28 − 0.5Q and the market price is $8. What is consumer surplus?

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Quantity at $8: 28 − 0.5Q = 8 → Q = 40. CS = ½ × 40 × (28 − 8) = $400.

Problem 2.

Demand is P = 58 − 2Q and the market price is $24. What is consumer surplus?

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Quantity at $24: 58 − 2Q = 24 → Q = 17. CS = ½ × 17 × (58 − 24) = $289.

Problem 3.

Demand is P = 24 − 2Q and the market price is $8. What is consumer surplus?

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Quantity at $8: 24 − 2Q = 8 → Q = 8. CS = ½ × 8 × (24 − 8) = $64.

Problem 4.

Demand is P = 58 − 1Q and the market price is $14. What is consumer surplus?

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Quantity at $14: 58 − 1Q = 14 → Q = 44. CS = ½ × 44 × (58 − 14) = $968.

Problem 5.

Demand is P = 42 − 1Q and the market price is $16. What is consumer surplus?

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Quantity at $16: 42 − 1Q = 16 → Q = 26. CS = ½ × 26 × (42 − 16) = $338.

Problem 6.

Demand is P = 60 − 2Q and the market price is $8. What is consumer surplus?

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Quantity at $8: 60 − 2Q = 8 → Q = 26. CS = ½ × 26 × (60 − 8) = $676.