If you had been willing to pay R21.90 for the litre of milk purchased at the supermarket, but were required to pay only R12.90, you have gained

Question

Quizplus · Accepted Answer

The difference between the maximum amount you were willing to pay (R21.90) and the actual price you paid (R12.90) represents your consumer surplus (R9.00). This is the benefit you gained from purchasing the milk at a lower price than you were willing to pay.

If You Had Been Willing to Pay R21