Consumer Surplus Is

question 56

Multiple Choice

Consumer surplus is

• A)the difference between the maximum price consumers are willing to pay and the minimum price producers are willing to accept.
• B)the excess of the benefit received from a good over the amount paid for it.
• C)the total value to consumers of a good.
• D)equal to the area under the demand curve.
• E)the total amount paid for a good.

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Definitions:

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A partnership between two individuals characterized by emotional and often sexual intimacy.

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A measure of a person's or a family's financial and social position relative to others, based on income, education, and occupation.

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