The consumer acquires a consumer surplus on a good if the marginal benefit is
A) equal to the price.
B) greater than the price.
C) less than the price.
D) zero.
E) less than the marginal cost.

Question

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. Therefore, for the consumer to acquire a consumer surplus, the marginal benefit should be greater than the price. Option B is the only choice that fits this description.

The Consumer Acquires a Consumer Surplus on a Good If