Consumer surplus is the difference between:
a. what the consumer is willing to pay and what the consumer must actually pay to receive a good or service.
b. the quantity of goods a consumer is willing to buy and the quantity of goods the consumer actually buys.
c. what the producer is willing to receive and what the consumer must actually pay to receive a good or service.
d. the quantity of goods a producer is willing to and the quantity of goods the consumer actually buys.
a
You might also like to view...
Does an open market operation in which the Fed buys securities from the general public decrease or increase the banking system's reserves?
What will be an ideal response?
Incrementalism may be an efficient way to craft a budget because _____
a. it minimizes government size b. it is difficult to measure the benefits of many government programs c. it removes special interest influence from the budget process d. it requires that programs be cost-effective to continue