Which would be the most accurate statement?

A) No one enjoys a consumer surplus.
B) We enjoy a consumer surplus on many goods and services.
C) We enjoy a consumer surplus on all goods and services.

Question

Which would be the most accurate statement?A) No one enjoys a consumer surplus.B) We enjoy a consumer surplus on many goods and services.C) We enjoy a consumer surplus on all goods and services.

Trevor Brown · Accepted Answer

Final Answer : B, Explanation :  Consumer surplus is the difference between the maximum price a consumer is willing to pay for a good or service and the actual market price. In many cases, consumers are able to purchase goods and services at prices lower than their willingness to pay, resulting in a consumer surplus. While there may be some goods or services that do not provide a consumer surplus, it is not accurate to say that no one enjoys a consumer surplus. Therefore, option B is the most accurate statement.

Which would be the most accurate statement?

A) No one enjoys a consumer surplus.
B) We enjoy a consumer surplus on many goods and services.
C) We enjoy a consumer surplus on all goods and services.

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Learning Objectives

Learning Objectives

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