Surplus is:
A)a way of measuring who benefits from transactions and by how much.
B)the difference between the price the buyer would have paid and the actual price paid.
C)the difference between the price the seller would have accepted and the actual sell price.
D)All of these statements are true.

Question

Quizplus · Accepted Answer

Surplus is the difference between the maximum price a buyer is willing to pay and the actual price paid, and the difference between the minimum price a seller is willing to accept and the actual sell price. It is a way of measuring who benefits from transactions and by how much. Therefore, all of the given statements are true.

Surplus Is