Reading 14: Efficiency and Equity- LOS b ～ Q1-2

答案和详解如下：

1.Consumer surplus is most accurately defined as the difference between the:

A)   total value consumers place on the quantity of a good purchased, and the total amount they must pay for that quantity.

B)   value consumers are willing to pay for an additional unit of good or service and the cost of producing the additional unit of the good or service.

C)   marginal benefit and the marginal cost of the last unit consumed of a good or service.

D)   price that a consumer must pay for an additional unit of a good or service and the cost of producing the additional unit of the good or service.

The correct answer was A)

For an individual, consumer surplus is defined as the sum of the differences between what that individual is willing to pay for each individual unit of a good or service that he or she purchases (marginal benefit) and the amount that he or she actually pays for each of these individual units.

2.Consumer surplus is best explained as the:

A)   amount by which the quantity of a good produced exceeds the quantity that consumers demand.

B)   difference between the quantity of a good a consumer purchases and the quantity the consumer is willing to purchase.

C)   amount by which the consumer’s marginal benefit curve lies above a good’s marginal cost.

D)   difference between the value a consumer places on a good or service and the amount the consumer has to pay to acquire it.

The correct answer was D)

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.