Economics · Consumer Behaviour
Consumer surplus is defined as:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The indirect tax consumers pay on a good or service.
- 2The marginal utility gained by consuming one more unit of a good or service.
- 3The indirect tax producers pay on a good or service.
- 4The difference between what consumers are prepared to pay for a good or service and the prevailing market price.✓
Correct answer
The difference between what consumers are prepared to pay for a good or service and the prevailing market price.
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