Commerce Exam > Commerce Questions > Consumer’s surplus is also known as?a)B...
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Consumer’s surplus is also known as?
- a)Buyer’s surplus
- b)Elasticity of demand
- c)Differential surplus
- d)Indifference surplus
Correct answer is option 'A'. Can you explain this answer?
Verified Answer
Consumer’s surplus is also known as?a)Buyer’s surplusb)Ela...
Consumer surplus is defined as the difference between the total amount that consumers are willing and able to pay for a good or service (indicated by the demand curve) and the total amount that they actually do pay (i.e. the market price) it is also known as buyer 's surplus.
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Consumer’s surplus is also known as?a)Buyer’s surplusb)Ela...
Consumer surplus is defined as the difference between the total amount that consumers are willing and able to pay for a good or service (indicated by the demand curve) and the total amount that they actually do pay (i.e. the market price) it is also known as buyer 's surplus.
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Consumer’s surplus is also known as?a)Buyer’s surplusb)Ela...
Because the consumer and the buyer are one and the same.... so consumer surplus will result in buyers surplus.... so a is the correct answer
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Consumer’s surplus is also known as?a)Buyer’s surplusb)Elasticity of demandc)Differential surplusd)Indifference surplusCorrect answer is option 'A'. Can you explain this answer?
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