Consumer surplus refers to the difference between the maximum price a consumer is willing to pay for a good and the actual price they pay. It represents the value that consumers receive from a good but do not have to pay for. Therefore, option C is the correct answer.

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Consumer Surplus Is

Question 69

Multiple Choice

Consumer surplus is:

A) the value consumers get from a supplier.
B) the value consumers do not pay because of a discount by a supplier.
C) the value consumers get from a good but do not pay for.
D) equal to the amount consumers pay for a good.

Correct Answer: