Exhibit 5-8
-Consumer surplus is the difference between
A)the supply curve and the equilibrium price line in a supply/demand diagram.
B)the minimum quantity consumers are willing to buy and the amount they actually buy.
C)total utility and marginal utility for every unit of a good consumed.
D)the total marginal benefit for every unit of a good consumed and total expenditures on the good.
E)total revenue and total cost in a market for a good.

Question

Exhibit 5-8 
-Consumer surplus is the difference between
A)the supply curve and the equilibrium price line in a supply/demand diagram. 
B)the minimum quantity consumers are willing to buy and the amount they actually buy. 
C)total utility and marginal utility for every unit of a good consumed. 
D)the total marginal benefit for every unit of a good consumed and total expenditures on the good. 
E)total revenue and total cost in a market for a good.

Quizplus · Accepted Answer

Consumer surplus is the difference between the total marginal benefit for every unit of a good consumed (what consumers are willing to pay) and the total expenditures on the good (what they actually pay).

Exhibit 5-8 -Consumer Surplus Is the Difference Between