The benefit consumers receive when they consume an additional unit of a good is measured by:

Question

Quizplus · Accepted Answer

The benefit consumers receive when they consume an additional unit of a good is measured by the consumer surplus, which is the difference between the maximum price a consumer is willing to pay and the actual price paid for the good. Consumer surplus is represented by the area above the market price and below the demand curve, hence the height of the demand curve.

The Benefit Consumers Receive When They Consume an Additional Unit