What is consumer surplus
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Definition: Consumer surplus is defined as the difference between the consumers' willingness to pay for a commodity and the actual price paid by them, or the equilibrium price. ... It is positive when what the consumer is willing to pay for the commodity is greater than the actual price.
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A consumers happen when the price consumer pay for a product or service is less than the price they're willing to pay...
conumer surplus always increases as the price of a good falls and decreases as the price of good rises
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