Consumer Surplus Is The

question 214

Multiple Choice

Consumer surplus is the:

• A) number of consumers who are excluded from a market because of scarcity.
• B) amount of a good that consumers will buy at a price below the equilibrium price.
• C) amount consumers are willing to pay for a good minus the amount the consumers actually pay for it.
• D) amount consumers are willing to pay for a good minus the cost of producing the good.

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Definitions:

Opportunities

Situations or conditions that present possibilities for progress, achievement, or advantage.

Calling

A deep sense of purpose or a strong inner impulse toward a particular course of action, especially one believed to be of importance or benefit to society.

Socially Useful

Activities or behaviors that contribute positively to the functioning and well-being of society.

Fulfilling

Describes a sense of satisfaction or happiness resulting from achieving one's goals, desires, or potential.