Consumer surplus is equal to the a. Value to buyers - Amount paid by buyers. b. Amount paid by buyers - Costs of sellers. c. Value to buyers - Costs of sellers. d. Value to buyers - Willingness to pay of buyers.

Question

Marco Hays

Business

11 October, 17:48

Consumer surplus is equal to the a. Value to buyers - Amount paid by buyers. b. Amount paid by buyers - Costs of sellers. c. Value to buyers - Costs of sellers. d. Value to buyers - Willingness to pay of buyers.

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Answers (1)

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Adalynn Levy · Answer 1

a. Value to buyers - Amount paid by buyers

Explanation:

Consumer surplus is the area above the price and below the demand curve. It is the difference of value to the buyers and actual amount paid by the buyers.