Consumers' surplus is:

Question

Quizplus · Accepted Answer

Consumers' surplus refers to the excess value of a good or service to a consumer above the price paid for it. It is calculated as the difference between the maximum price a consumer is willing to pay for a good or service and the actual price paid. Therefore, option C, which states "the value of a good to consumers minus the amount paid to sellers" is the correct definition of consumers' surplus. The options A, B, and D do not accurately define consumers' surplus.

Consumers' Surplus Is