If a consumer is willing to pay $50 for a product but only pays $30, their consumer surplus is $20, and this surplus indicates that they would still purchase the product even if the price rose slightly above $30, demonstrating that consumer surplus reflects willingness to pay above the market price.

Consumer surplus is the difference between what a buyer is willing to pay for a product and what they actually pay. In this case, the consumer is ready to pay $50 for a product but only pays $30, resulting in a consumer surplus of $20. This surplus shows that the consumer values the product more than the price they paid, meaning they would still buy it even if the price increased slightly above $30. For example, if the price rose to $35, the consumer would still feel they are getting a good deal because they were willing to pay up to $50. Therefore, consumer surplus is an important measure that helps us understand how much benefit consumers get from purchasing goods at a lower price than their maximum willingness to pay.