In a market, consumers get extra benefits called _____, while businesses receive extra benefits known as _____.

Question

Quizplus · Accepted Answer

In a market, consumers get extra benefits known as consumer surplus, which is the difference between the price they are willing to pay and the actual price they pay. On the other hand, businesses receive extra benefits known as producer surplus, which is the difference between the price they receive for their goods or services and the minimum price they would be willing to accept.

In a Market, Consumers Get Extra Benefits Called _____, While