What does total surplus in a market equal
A)Value to buyers - Amount paid by buyers
B)Amount received by sellers - Costs of sellers
C)Value to buyers - Costs of sellers
D)Amount received by sellers - Amount paid by buyers

Question

Quizplus · Accepted Answer

Total surplus in a market equals the difference between the value that buyers place on a good or service (consumer surplus) and the cost of producing that good or service (producer surplus). Therefore, option C is the correct choice which is the difference between the value to buyers (consumer surplus) and the costs of sellers (producer surplus).

What Does Total Surplus in a Market Equal