Economics · Consumer Behaviour
A consumer is willing to pay ₹500 for a concert ticket but is able to purchase it for ₹300. The difference of ₹200 represents the net benefit received by the consumer, which is known as:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Marginal Utility
- 2Utility Maximization
- 3Consumer Surplus✓
- 4Producer Surplus
Correct answer
Consumer Surplus
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