Consumer surplus is the value of:
A)consumer spending on frivolous goods.
B)the cumulative difference between what consumers are willing to pay and the price they actually pay.
C)the difference between the suggested retail price and the everyday low price.
D)the difference between the list price and the price the consumer can negotiate.

Question

Quizplus · Accepted Answer

Consumer surplus measures the difference between the price consumers are willing to pay and the price they must pay in the market.

Consumer Surplus Is the Value Of