Suppose you receive a consumer surplus of $50.The $50 represents

Question

Quizplus · Accepted Answer

Consumer surplus represents the difference between the price a consumer is willing to pay for a good and the actual price that they pay. In this case, if the consumer surplus is $50, it means that the consumer was willing to pay $50 more than the actual price they paid for the good. Therefore, the correct answer is D, which states that the consumer surplus represents the fact that the consumer paid $50 less than they were willing to pay for the good.

Suppose You Receive a Consumer Surplus of $50