Episode 278: Consumers' Hidden Profit
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What Is Consumer Surplus?
At present, we're at about $4.50 gallon here, which is easily the highest price for gas I've seen. People in California, I saw some photographs of the gas station signage. Some of those people are paying up to $8.50 a gallon. Would you pay it? Well, see, that's the thing I can sit here in the comfort of my home and say, no, I wouldn't pay that. And yet, if I had to get to work and my tank was empty, you know darn well, I would pay it.
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