Consumer surplus is _____
A)the amount by which quantity supplied exceeds quantity demanded at the current market price.
B)the amount by which quantity demanded exceeds quantity supplied at the current market price.
C)the change in total utility derived from a one-unit change in the consumption of a good.
D)the horizontal sum of the individual demand curves for all consumers in a market.
E)the difference between the maximum price consumers are willing to pay and the amount they actually pay.

Question

Quizplus · Accepted Answer

Consumer surplus is the difference between the maximum amount a consumer is willing to pay for a good or service and the amount they actually pay. It measures the additional value consumers receive from purchasing a good or service for a price lower than what they were willing to pay.

Consumer Surplus Is _____