Consumer surplus is the
A)amount of a good consumers get without paying anything for it.
B)amount a consumer pays minus the amount the consumer is willing to pay.
C)amount a consumer is willing to pay minus the amount the consumer actually pays.
D)value of a good to a consumer.

Question

Quizplus · Accepted Answer

Consumer surplus is the difference between the maximum price consumers are willing to pay for a good or service and the actual price they pay. Therefore, choice C is the correct answer as it represents the difference between what a consumer is willing to pay and what they actually pay. Choices A, B, and D do not reflect the correct definition of consumer surplus.

Consumer Surplus Is the