Which of the Following Statements About Consumer Surplus Is Incorrect

question 78

Multiple Choice

Which of the following statements about consumer surplus is incorrect?

• A) Consumer surplus is the net benefit to consumers from the exchange that occurs in a market.
• B) Consumer surplus is the gains from trade on the part of the consumer that result from a market transaction.
• C) Total consumer surplus is the area beneath the demand curve and above the market price.
• D) Consumer surplus is the difference between the minimum price the consumer is willing to pay and the market price.

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