Consumer surplus is the:
A) number of consumers who are excluded from a market because of scarcity.
B) amount of a good that consumers will buy at a price below the equilibrium price.
C) amount consumers are willing to pay for a good minus the amount the consumers actually pay for it.
D) amount consumers are willing to pay for a good minus the cost of producing the good.

Question

Quizplus · Accepted Answer

Consumer surplus is the difference between the amount a consumer is willing to pay for a good or service and the price they actually pay. It is the extra utility or satisfaction that consumers receive from paying less for a good than they would be willing to pay.

Consumer Surplus Is The