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Q. |
Which best describes consumer surplus? |
A. | the price consumers are willing to pay for a unit |
B. | the cost of providing a unit |
C. | the profits made by a firm |
D. | the difference between the price a consumer pays for an item and the price he/she is willing to pay for it |
Answer» D. the difference between the price a consumer pays for an item and the price he/she is willing to pay for it |
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