Consumer Surplus Is

question 108

Multiple Choice

Consumer surplus is

• A)the amount by which quantity supplied exceeds quantity demanded at the current market price
• B)the amount by which quantity demanded exceeds quantity supplied at the current market price
• C)the change in total utility derived from a one-unit change in the consumption of a good
• D)the difference between the price of the good paid by the consumer and the costs of production to the seller
• E)the difference between the maximum amount that a consumer is willing to pay for a given amount of a good and the amount that the consumer actually pays