What is the economic term for the difference between the most that a consumer would pay for a good and the price that the consumer actually pays for the good?
A) marginal utility
B) quantity demanded
C) consumer surplus
D) normal good

Question

Quizplus · Accepted Answer

Consumer surplus is the economic term that describes the difference between the highest amount a consumer is willing to pay for a good or service and the actual amount they pay.

What Is the Economic Term for the Difference Between the Most