Ask Question
28 November, 11:11

Consumer surplus is a. the amount a buyer is willing to pay for a good minus the amount the buyer actually pays for it. b. the amount a buyer is willing to pay for a good minus the cost of producing the good. c. the amount by which the quantity supplied of a good exceeds the quantity demanded of the good. d. a buyer's willingness to pay for a good plus the price of the good.

+3
Answers (1)
  1. 28 November, 12:24
    0
    a buyer is willing to pay for a good minus the amount the buyer actually pays for it.

    Explanation:

    We know that,

    The producer and consumer surplus are shown below:

    Producer surplus = Market price - Actual amount to sell the goods

    And, the consumer surplus = Willing to pay - Market price

    The producer surplus is related to the producer whereas the consumer surplus is related to the buyer

    Hence, option a is correct
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Consumer surplus is a. the amount a buyer is willing to pay for a good minus the amount the buyer actually pays for it. b. the amount a ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers