For any transaction, the sum of consumer surplus and producer ...

[Melani1276]

For any transaction, the sum of consumer surplus and producer surplus is cooperative surplus.
 
  Indicate whether the statement is true or false

Question 2

Consumer surplus is the difference between the maximum amount a buyer is willing to pay for a product and the price he actually pays.
 
  Indicate whether the statement is true or false

[meryzewe]

Answer to Question 1

TRUE

Answer to Question 2

TRUE

[Melani1276]

Excellent

[vickybb89]

Thanks for the timely response, appreciate it