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 From which of the following, the concept of consumer’s surplus has been derived?
  • a)
    Law of demand 
  • b)
    Indifference curve analysis
  • c)
    Law of supply 
  • d)
    none
Correct answer is 'A'. Can you explain this answer?
Verified Answer
From which of the following, the concept of consumer’s surplus h...
Because consumer surplus is the difference between what consumer is ready to pay and what he actually pays
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From which of the following, the concept of consumer’s surplus h...
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Community Answer
From which of the following, the concept of consumer’s surplus h...
Option a. Because consumer surplus is the difference between what consumer is ready to pay and what he actually pays
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From which of the following, the concept of consumer’s surplus has been derived?a)Law of demandb)Indifference curve analysisc)Law of supplyd)noneCorrect answer is 'A'. Can you explain this answer?
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