Explain the concept of consumer surplus

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asked Apr 25, 2021 184k views

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Kztd · Answer 1 · 2021-04-26T07:10:34+0000

Answer:

difference between the consumers' willingness to pay for a commodity and the actual price paid by them, or the equilibrium price.

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IftekharDani · Answer 2 · 2021-04-29T11:31:42+0000

Answer:

Definition: Consumer surplus is defined as the difference between the consumers' willingness to pay for a commodity and the actual price paid by them, or the equilibrium price.

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Explain the concept of consumer surplus

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Explain the concept of consumer surplus