Consumer surplus is

Question

Consumer surplus is

Quizplus · Accepted Answer

Consumer surplus is the difference between the maximum price a consumer is willing to pay for a good and the actual price they pay. This represents the value that they receive from the good but do not have to pay for, hence option C is correct. Option A is incorrect as it only refers to the value received, without any consideration of the price paid. Option B is incorrect as it refers only to discounts, which may or may not result in consumer surplus. Option D is incorrect as it ignores any additional value that consumers receive beyond the price that they pay.

Consumer Surplus Is