Consumer surplus equals the quantity supplied minus the quantity demandeD.

Name: Consumer surplus equals the quantity supplied minus the quantity demandeD.
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Question

Consumer surplus equals the quantity supplied minus the quantity demandeD.​

Quizplus · Accepted Answer

Consumer surplus is not calculated as the difference between quantity supplied and quantity demanded. It is the difference between the amount that consumers are willing to pay for a good or service and the price they actually pay. This can be represented graphically as the triangle between the demand curve and the market price.

Consumer Surplus Equals the Quantity Supplied Minus the Quantity DemandeD