Which of the following statements provides the best example of consumer surplus?

Question

Quizplus · Accepted Answer

Consumer surplus is the difference between the maximum price a consumer is willing to pay for a product and the actual price they pay. In option C, the consumer paid $20 for a shirt but would have been willing to pay up to $40, so they received a consumer surplus of $20. This represents the best example of consumer surplus among the given options.

Which of the Following Statements Provides the Best Example of Consumer