Which of the following is a means of measuring consumer surplus?

Question

Quizplus · Accepted Answer

Consumer surplus is the difference between what a consumer is willing to pay for a good and the price they actually pay. Measuring the area above the price and below the demand curve gives us the total consumer surplus in a market. This is because the demand curve represents the maximum price a consumer is willing to pay, and the price they actually pay is represented by the market price. The area above the price reflects the potential willingness to pay, while the area below the demand curve (up to the market price) reflects the actual price paid.

Which of the Following Is a Means of Measuring Consumer