Economics · Consumer Behavior
With respect to consumer surplus, which of the following statements is NOT correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1It is the extra price paid by the consumer✓
- 2It is the net benefit or value that a consumer receives
- 3It is the total benefit the consumer receives beyond what they pay
- 4It is the difference between what price a consumer is willing to pay and what he actually pays
Correct answer
It is the extra price paid by the consumer
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