Which of the following is the reason for the existence of consumer surplus?

Question

Quizplus · Accepted Answer

Consumer surplus exists because some consumers are willing to pay more than the market price for a good or service. This means they are willing to pay a price higher than what suppliers are charging in the market, creating a surplus benefit for those consumers. The gap between what they are willing to pay and the actual price they pay is their consumer surplus.

Which of the Following Is the Reason for the Existence