Question

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.

Answer 1

a. Value to buyers - Amount paid by buyers

Step-by-step 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.