Surplus refers to:
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 can be calculated from both the buyer's and seller's perspective, thus encompassing both options B and C. Additionally, surplus can be seen as a measure of how much benefit is generated by a transaction, which aligns with option A. Therefore, all of these statements are true.

Surplus Refers To