People gain consumer surplus when they purchase an item:
A)at a price below the value of the benefit they receive from the item.
B)at an equitable price.
C)at a price above marginal revenue but lower than the cost of production.
D)with a marginal benefit below the price of the item.

Question

Quizplus · Accepted Answer

Consumer surplus is the difference between the maximum amount a consumer is willing to pay for an item and the actual price they pay. Therefore, if they purchase an item at a price below the value of the benefit they receive from the item, they gain consumer surplus.

People Gain Consumer Surplus When They Purchase an Item