Session 4: Economics: Microeconomic Analysis
Reading 14: Efficiency and Equity
LOS b: Distinguish between the price and the value of a product and explain the demand curve and consumer surplus.
Consumer surplus is best described as the:
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A) |
difference between the quantity of a good a consumer purchases and the quantity the consumer is willing to purchase. | |
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B) |
amount by which the consumer’s marginal benefit curve lies above a good’s marginal cost. | |
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C) |
difference between the value a consumer places on a good or service and the amount the consumer has to pay to acquire it. | |
Consumer surplus is the sum of the differences between what a consumer is willing to pay for each unit of a good or service and what that consumer actually pays for each unit. | 
发表于 2011-3-6 15:32
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