Answer to Question #205889 in Economics for LUCIA LESHIKA

Question #205889

Consumer surplus indicates


1
Expert's answer
2021-06-12T10:45:25-0400

The consumer surplus is the difference between the consumer’s willingness to pay for the product and the equilibrium price of the product. Therefore, the consumer surplus indicates that the consumer’s willingness to pay for the product is greater than its equilibrium (or market) price.


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