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The difference between what a consumer is ready to pay and what he actually pays is:
  • a)
    Consumer Surplus
  • b)
    Consumer deficit
  • c)
    Both
  • d)
    None
Correct answer is option 'A'. Can you explain this answer?
Verified Answer
The difference between what a consumer is ready to pay and what he act...
Because consumer surplus is the difference between what consumer is ready to pay and what he actually pays
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The difference between what a consumer is ready to pay and what he act...
A
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The difference between what a consumer is ready to pay and what he actually pays is:a)Consumer Surplusb)Consumer deficitc)Bothd)NoneCorrect answer is option 'A'. Can you explain this answer?
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