Economics · Microeconomics
In Marshallian terms, consumer's surplus is defined as the difference between:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
Share:
- 1The income spent on a luxury item and a necessary item
- 2The maximum price a consumer is willing to pay and the price they actually pay✓
- 3The price expected by the seller and the actual price paid by the buyer
- 4The total utility derived from a commodity and its marginal utility
Correct answer
The maximum price a consumer is willing to pay and the price they actually pay
Download Single Question PDF
Save this question and verified answer as a clean study sheet with live clickable link.
👥
Share with Friends & Study Groups
Challenge your peer aspirants on WhatsApp or Telegram to solve this question!
Online Test Series
Start Free Mock Test →Preparing for Economics?
Practice full-length mock tests with real exam timers, instant score analysis, and all-India ranking.
Chapter Practice
Practice Microeconomics MCQs →Want more practice questions on Microeconomics?
Solve complete topic-wise tests with detailed solutions on GkGet.
Related Practice Questions
Recommended practice questions in Economics · Microeconomics