Consumer surplus is defined as:
A) the difference between the price that consumers would be willing to pay for a product and the price that they actually pay for it.
B) the difference between the actual price for a product and the suggested retail price.
C) the difference between the price that consumers pay for a product and the actual cost of making it.
D) the difference between the price that producers get for a product and the marginal cost of Making more of it.

Question

Quizplus · Accepted Answer

Consumer surplus is the difference between what consumers are willing to pay for a good or service and what they actually pay, representing the benefit to consumers from participating in the market.

Consumer Surplus Is Defined As