The Answer Is: "The Difference Between the Price Buyers Pay

question 84

Multiple Choice

The answer is: "The difference between the price buyers pay for a good and the maximum or highest price they would have paid for the good." This is the definition for

• A) taxes.
• B) producers' surplus.
• C) consumers' surplus.
• D) the sum of producers' and consumers' surpluses.
• E) the welfare triangle.