Economics (AS & A Level) · May / June 2023 · Paper 11 · Question 6
9708Consumer and producer surplus
What does consumer surplus measure?
- Athe excess profit earned by the producer of a good
- Bthe opportunity cost to the consumer of not buying a good
- Cthe price the marginal consumer is willing to pay for a good
- Dthe consumer’s gain from purchasing a good at a price below what they are willing to pay
As printed in the paper
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Correct answer: D. the consumer’s gain from purchasing a good at a price below what they are willing to pay
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