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

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Turner Johnston

Business

21 September, 00:29

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

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Cecelia Shaw · Answer 1

A buyer's willingness to pay for a good plus the price of the good means the buyer is indifferent between buying the good and not buying it.

Surplus is the amount by which the quantity supplied of a good exceeds the quantity demanded of the good.

Producer surplus is the amount a buyer is willing to pay for a good minus the cost of producing the good.

Consumer surplus is the amount a buyer is willing to pay for a good minus the amount the buyer actually pays for it.