Examlex
You've expressed the bad news and advised your customer of the various alternatives to the print she originally ordered. Which of the following is the best option to include in your closing?
Willing To Pay
Willing to pay is the maximum amount that a consumer is prepared to spend on a good or service.
Consumer Surplus
The difference between the total amount that consumers are willing and able to pay for a good or service versus the total amount they actually pay.
Producer Surplus
The difference between what producers are willing to accept for a product versus what they actually receive in the market.
Marginal Benefit
The increased benefit or value received from the consumption or creation of one more unit of a good or service.
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