A consumer's surplus represents an advantage for ________.

Name: A consumer's surplus represents an advantage for ________.
Brand: Quizplus
Rating: 4.8 (53 reviews)

Question

Quizplus · Accepted Answer

Consumer's surplus is the difference between the price that the consumer is willing to pay for a good or service and the actual price they pay. This represents a benefit or advantage to the consumer, as they are able to purchase the good or service for less than they were willing to pay.

A Consumer's Surplus Represents an Advantage for ________