Surplus refers to:
A) the difference between the price at which a buyer or seller would be willing to trade and the actual price.
B) the difference between the willingness to pay and the actual price paid.
C) the difference between the willingness to sell and the actual price accepted.
D) All of these are true.

Question

Quizplus · Accepted Answer

Surplus can refer to different types of differences in prices in economics, including the difference between the perceived value of a good or service and the actual price paid or accepted. Therefore, all the choices provided in the question are accurate, making D the best answer.

Surplus Refers To