Consumer Surplus

Multiple Choice

Consumer surplus

A) is the total value that a consumer receives from the purchase of a particular good.
B) is the sum of the marginal values to the consumer.
C) is a measure of the gains that a consumer forgoes by buying this product rather than another.
D) is the difference between what the consumer is willing to pay for all the units consumed and what he or she actually paid.
E) is the consumption of a commodity above and beyond the amount required by the consumer.