Arthur buys a new cell phone for $150. He receives consumer surplus of $150 from the purchase. What value does Arthur place on his cell phone

$300

Explanation:

Customer surplus may be explained as the additional benefit a customer earns over and above the amount paid. In other words, the amount paid is less than the amount customer is willing to pay for a certain product, hence. The additional benefit derived from paying less is the consumer surplus.

Therefore ;

Consumer surplus = Value - amount paid

From the question :

Consumer surplus = $150

Amount paid = $150

Hence,

Value = Consumer surplus + Amount paid

Value = $150 + $150

Value = $300

match each type of restriction with one of its effects.

a. land-use laws

b. labor laws

c. banking regulations

a. controlled development of towns and cities

b. protection of young workers

c. greater financial stability

income statement is prepared in order to show the profits and loss of a business. in order to prepare the income statement she should collect all the income and expenses of the product with the cost of production.