Consumer Surplus Represents

question 64

Multiple Choice

Consumer surplus represents

• A) the marginal value that consumers place on the last unit consumed of a good.
• B) the value that consumers place on the last unit consumed of a good.
• C) the quantity consumed in excess of the allocatively efficient amount.
• D) the total value that consumers place on the quantity consumed of some good.
• E) the difference between the value that consumers place on a good and the payment they make to buy the good, summed over the quantity consumed.

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Definitions:

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