Answer to Question #123060 in Microeconomics for Gurneek

Question #123060
Consumer surplus
1
Expert's answer
2020-06-22T13:11:33-0400

Consumer surplus is the difference between the price that consumers pay, and the price that consumer pay and the price that they are willing to pay. On a supply and demand curve, it is the area between the equilibrium price and the demand curve.


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