The difference between the price consumers are willing to pay and the
Price that they actually pay is known as:
A)price discrimination.
B)government surplus.
C)consumer surplus.
D)producer surplus.

Question

Quizplus · Accepted Answer

Consumer surplus is the difference between the price a consumer is willing to pay and the price they actually pay. This represents the value or benefit that consumers receive from a product or service. Price discrimination refers to charging different prices to different customers, while government surplus and producer surplus are not relevant to this concept.

The Difference Between the Price Consumers Are Willing to Pay