Consumer surplus
A) is the difference between total willingness to pay and the total amount actually paid.
B) guarantees that the market value of a good in money is equal to the total economic value of the good.
C) is always negative because of diminishing marginal utility.
D) is the total area under a consumer's demand curve.

Question

Quizplus · Accepted Answer

Consumer surplus is the difference between what consumers are willing to pay for a good or service (total willingness to pay) and what they actually pay.

Consumer Surplus