Consumer surplus measures:
A)the increase in a buyer's total utility when the buyer purchases additional units of a good.
B)the difference between the quantity demanded and the quantity supplied at a given price.
C)the difference between a buyer's marginal utility from consuming a product and the price actually paid.
D)the difference between the most a buyer would be willing to pay for a product and the price actually paid.

Question

Quizplus · Accepted Answer

Consumer surplus is defined as the difference between a buyer's reservation price for a product and the price actually paid.

Consumer Surplus Measures