Economists call the difference between what you pay for a good and what you would have been willing to pay for it a(n)
A) budget deficit
B) consumer deficit
C) consumer marginal benefit
D) consumer surplus
E) economic benefit

Question

Quizplus · Accepted Answer

Consumer surplus is the term economists use to describe the difference between the maximum amount a consumer is willing to pay for a good or service and the actual amount they pay.

Economists Call the Difference Between What You Pay for a Good