Consumers' surplus is the difference between the maximum price the buyer is willing and able to pay for a good and the actual price paid.

Name: Consumers' surplus is the difference between the maximum price the buyer is willing and able to pay for a good and the actual price paid.
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Consumers' surplus is defined as the difference between the maximum price a consumer is willing and able to pay for a good and the actual price they actually pay.

Consumers' Surplus Is the Difference Between the Maximum Price the Buyer