Consumer surplus is
A)a concept that helps us make normative statements about the desirability of market outcomes.
B)represented on a graph by the area below the demand curve and above the price.
C)a good measure of economic welfare if buyers' preferences are the primary concern.
D)All of the above are correct.

Question

Quizplus · Accepted Answer

Consumer surplus is a measure of economic welfare that helps us make normative statements about the desirability of market outcomes. It is represented on a graph by the area below the demand curve and above the price, and it is a good measure of economic welfare if buyers' preferences are the primary concern. Therefore, all of the above statements are correct.

Consumer Surplus Is