Consumer surplus is

a. the amount a buyer is willing to pay for a good minus the amount the buyer actually pays for it.

b. the amount a buyer is willing to pay for a good minus the cost of producing the good.

c. the amount by which the quantity supplied of a good exceeds the quantity demanded of the good.

d. a buyer's willingness to pay for a good plus the price of the good. b. c. d.

Expert Solution

Correct answer is A

Consumer surplus is an economic measure of consumer advantage, which is figured by examining the distinction between what consumers are eager and ready to pay for a product with respect to its market cost, or what they really do spend on the great or administration. A consumer surplus happens when the consumer will pay more for a given item than the present market.

Rahul Sunny answered 2 years ago

Consumer surplus is

Consumer surplus is A. a buyer's willingness to pay for a good plus the price of the good. B. the amount a buyer is willing to pay for a good minus the cost of producing the good. C. the amount a buyer is willing to pay for a good minus the amount the buyer actually pays for it. D. the amount by which the quantity supplied of a good exceeds the quantity demanded of the good.

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Consumer surplus is

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Consumer surplus is

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