Consumer surplus is the difference between
A) supply and demand.
B) the price the producer receives and the willingness to sell a good.
C) the willingness to pay for a good and the willingness to sell a good.
D) the willingness to pay for a good and the amount that is paid to get it.
E) the price paid for a good and the amount of the good produced.

Question

Quizplus · Accepted Answer

Consumer surplus is the difference between what consumers are willing to pay for a good or service and what they actually pay. This captures the benefit to consumers from participating in the market.

Consumer Surplus Is the Difference Between