When policymakers are considering a particular action,they can use consumer surplus as a(n)
A)objective measure of the benefits to buyers as determined by policymakers.
B)measure of the benefits to buyers as the buyers perceive them.
C)potentially flawed measure of the benefits to buyers if the buyers are not rational.
D)Both b)and c)are correct.

Question

Quizplus · Accepted Answer

Consumer surplus measures the benefits to buyers as they perceive them (B), but it can be flawed if buyers are not rational (C).

When Policymakers Are Considering a Particular Action,they Can Use Consumer