Consumer surplus is the difference between:

(A) Amount consumer is willing to pay minus amount actually paid by the consumer
(B) Amount consumer actually paid minus the amount consumer is wiling to pay
(C) Amount consumer actually paid minus the amount charged by the seller
(D) Amount consumer is willing to pay minus the amount producer is wanting

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  • Omlet and cakes have:

    (A) Negative cross price elasticity of demand
    (B) Positive cross elasticity of demand;
    (C) Positive income elasticity of demand
    (D) Negative income elasticity of demand

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