The _____ is the consumer's gain from an exchange. a. consumer surplus b. producer trade-off c....

The _____ is the consumer's gain from an exchange.

a. consumer surplus

b. producer trade-off

c. consumer trade-off

d. consumer earning

Solutions

Expert Solution

The right answer is option A, that is, consumer surplus. As the consumer surplus is the consumer's gain from an exchange and it is calculated by deducting the actual price paid by the consumer from the maxiwillingness to pay of the consumer.

Rahul Sunny answered 1 year ago

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