Multiple Choice
What is meant by consumer surplus?
A) It is the total quantity of a good bought by a consumer divided by the price paid.
B) It is a measure of an individual consumer's utility from the consumption of a good.
C) It is the difference between a consumer's maximum willingness to pay and the price.
D) It is a measure of the total benefit to consumers from the purchase of a good.
Correct Answer:
Verified
Correct Answer:
Verified
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