Consumer surplus is the ________ summed over the quantity bought.
A) marginal social benefit minus the marginal social cost
B) number of dollars' worth of other goods and services forgone to obtain one more unit of a good or service
C) value of a good or service minus the price paid for the good or service
D) value of a good or service plus the price paid for the good or service
Question 2
A market demand curve can be constructed by
A) adding the prices all consumers will pay for any given quantity.
B) adding the quantities that all consumers buy at each price.
C) adding the quantities that a consumer buys at the highest price.
D) None of the above answers is correct.
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