Consumer surplus equals the
A) value to buyers minus the amount paid by buyers.
B) value to buyers minus the cost to sellers.
C) amount received by sellers minus the cost to sellers.
D) amount received by sellers minus the amount paid by buyers.
Correct Answer:
Verified
Q12: At the equilibrium price of a good,the
Q13: At the equilibrium price of a good,the
Q14: Economists typically measure efficiency using
A)the price paid
Q15: Total surplus is equal to
A)value to buyers
Q16: Total surplus in a market is equal
Q18: Total surplus
A)can be used to measure a
Q19: Efficiency is attained when
A)total surplus is maximized.
B)producer
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