What does consumer surplus equal
A)value to buyers minus amount paid by buyers
B)value to sellers minus cost of sellers
C)value to buyers minus costs of sellers
D)value to sellers minus value to buyers

Question

Quizplus · Accepted Answer

Consumer surplus is the difference between the value that a consumer places on a good or service and the price that they actually pay for it. Hence, it is the value to buyers (the maximum amount they are willing to pay) minus the amount they actually pay. Option A correctly represents this definition.

What Does Consumer Surplus Equal