Question
Consumer surplus is a measure of a. How much a consumer's marginal utility differs from her total utility. b. How much a consumer believes that
Consumer surplus is a measure of
a. How much a consumer's marginal utility differs from her total utility.
b. How much a consumer believes that the good purchase is a bargain.
c. How much more value a consumer recipes from her purchase than she has to pay for them.
d. How much less than her income a consumer spends on goods.
The consumer equilibrium
a. pulls the consumer in the same direction as the demand curve does.
b. pulls the consumer in a different direction than the demand curve does.
c. may or may not be consistent with the demand curve.
d. is a separate concept from the demand curve and cannot be reconciled with the demand curve.
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