We can measure total consumer surplus for good X as the:
A)sum of the individual consumer surpluses for all buyers of X.
B)area above the demand curve for X and below the price paid for X.
C)area bounded by the demand curve for X and the two axes.
D)area above the supply curve for X.

Question

Quizplus · Accepted Answer

Total consumer surplus for a good is calculated as the sum of the individual consumer surpluses for all buyers of that good. This is because consumer surplus is the difference between what consumers are willing to pay and what they actually pay, summed across all consumers.

We Can Measure Total Consumer Surplus for Good X as The