Answer:
D.
Explanation:
Consumer surplus is calculated as the value of a good minus the price paid for it, summed over the quantity bought. Consumer Surplus, also referred to as total welfare or Marshallian surplus, always tends to continuously increase as the price of a specific good falls as well as continuously decreasing as the price of that specific good begins to rise.
Answer:
D. is calculated as the value of a goods minus the price paid for it, summed over the quantity bought
Explanation:
The correct answer is D, which is consumer surplus is define as the calculated value goods minus the price paid for it, summed over the quantity bought.
Consumer surplus can also be define as an economic evaluation of consumer benefits. Consumer surplus occurs when the price a consumers pays for a certain product or service is not upto the price they are ready or want to pay. It's also the calculation of the extra benefit that consumers get because they are paying lesser for something they planned on paying more for it.
