Question: Consumer surplus is best described as A.the difference between what suppliers pay to produce their goods and the value that they receive, indicated by the

Consumer surplus is best described as

  • A.the difference between what suppliers pay to produce their goods and the value that they receive, indicated by the maximum amount they are willing to pay.
  • B.what consumers pay and the value that they forgo, indicated by the maximum amount they are willing to pay.
  • C.the difference between what consumers pay and the value that they receive, indicated by the maximum amount they are willing to pay.
  • D.the positive difference between the lowest prices at which producers are willing to supply the different quantities and the price they receive.

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