Alfred Marshall discovered the concept of
A)utility.
B)consumer surplus.
C)diminishing marginal utility.
D)the diamond-water paradox.

Question

Quizplus · Accepted Answer

Alfred Marshall is credited with introducing the concept of consumer surplus in his book "Principles of Economics" in 1890. Consumer surplus refers to the difference between the total amount that consumers are willing to pay for a good or service and the total amount that they actually pay for it.

Alfred Marshall Discovered the Concept of