Consumer surplus
A)is the amount of a good that a consumer can buy at a price below equilibrium price.
B)is the amount a consumer is willing to pay minus the amount the consumer actually pays.
C)is the number of consumers who are excluded from a market because of scarcity.
D)measures how much a seller values a good.

Question

Quizplus · Accepted Answer

Consumer surplus is the difference between the maximum amount a consumer is willing to pay for a good and the actual amount they pay. It represents the benefit or surplus that a consumer receives from purchasing a good at a lower price than they are willing to pay. It is not related to the equilibrium price or the number of consumers excluded from a market. It also does not measure how much a seller values a good.

Consumer Surplus