Consumer surplus is the net economic benefit to consumers who are able to buy a good at a price lower than the highest price that they are willing to pay.

Question

Quizplus · Accepted Answer

Consumer surplus is the difference between the highest price a consumer is willing to pay for a good or service and the actual price they pay. It represents the additional benefit or value that consumers receive beyond what they had to pay for a product or service. Hence the statement is true.

Consumer Surplus Is the Net Economic Benefit to Consumers Who