Q
Which best describes consumer surplus ?
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A
A. The price consumers are willing to pray for a unit
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B
B. The cost of providing a unit
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C
C. The profits made by a firm
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D
D. The difference the price a consumer pays for an item and the price he/she is willing to pay
Correct Answer:
D. D. The difference the price a consumer pays for an item and the price he/she is willing to pay
