_______ is the value of a good minus the price paid for it summed over the quantity bought.
A) Surplus
B) Producer surplus
C) Consumer surplus
D) Shortage

Question

Quizplus · Accepted Answer

Consumer surplus is the difference between the total amount that consumers are willing and able to pay for a good or service (indicated by the value) and the total amount that they actually do pay (price).

_______ Is the Value of a Good Minus the Price