Consumer surplus measures:
A)the total benefits received from consuming a given quantity of a good.
B)the marginal benefit received from consuming the last unit of a good.
C)the net benefits received by consumers after deducting the cost of purchasing a good.
D)the dollar amount spent on units of a particular good.
E)the excess supply of goods in a market.

Question

Quizplus · Accepted Answer

Consumer surplus is the difference between what consumers are willing to pay for a good and what they actually pay, representing the net benefits after deducting the cost.

Consumer Surplus Measures