Consumer surplus exists when A) consumers value the good more highly than what they must pay to buy it. B) it costs less to produce goods than buyers must pay for them. C) the marginal benefit of the good is always equal to or less than the price of the good. D) the price of the good is greater than the marginal cost of producing a unit of the good.

Consumer surplus exists when A) consumers value the good more highly than what they must pay to buy it. B) it costs less to produce goods than buyers must pay for them. C) the marginal benefit of the good is always equal to or less than the price of the good. D) the price of the good is greater than the marginal cost of producing a unit of the good.

ECON MICRO

5th Edition

ISBN:9781337000536

Author:William A. McEachern

Publisher:William A. McEachern

Chapter6: Consumer Choice And Demand

Section: Chapter Questions

Problem 3.7P

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