Which Statement About Consumer Surplus Is Correct

Multiple Choice

Which statement about consumer surplus is correct?

A) Consumer surplus is the gross 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 equal to the price the consumers paid multiplied by the quantity they purchased.
D) Consumer surplus is the difference between the minimum price the consumer is willing to pay and the market price.