I think the answer to this is C but I am also not sure. The additional benefit to a consumer from consuming one more unit of a good or service A) is equal to consumer surplus. B) is equal to the opportunity cost of consuming the good or service. C) is equal to marginal benefit. D) is equal to economic surplus.

Economic surplus is maximized in a competitive market when       .   options:   The deadweight loss equals zero.   All the options are correct.   Quantity demanded is equal to quantity supplied.   Marginal benefit equals marginal cost.

Which of the following would lead to the creation of some consumer surplus? Sam refuses to pay $10 for a haircut because it is only worth $8 to him. Fred buys a car for $4000, the maximum amount that he is willing to pay. Danette pays $30 a month for phone service, but it is worth $70 a month to her. When Florence purchases a candy bar for 50 cents, she uses a $20 bill to pay for it.

Betty is willing to pay up to $150 for a particular pair of boots. She is able to buy the boots for $120. The marginal cost of producing the boots is $60. How large is the total economic surplus associated with her purchase of the boots?

The cookie demand curve slopes downward. When the price of cookies is $ 2, the quantity demanded is 100. If the price increases to $ 3, what happens to the consumer surplus?

Refer to the figure below. What is the consumer surplus generated at a price of $150 per game console?         Instructions: Use the tool provided “CS” to illustrate this area on the graph.        Consumer surplus: $ ____   What is the producer surplus generated at a price of $150 per game console?       Instructions: Use the tool provided “PS” to illustrate this area on the graph.      Producer surplus: $ ____ e. What is total economic surplus at a price of $150 per game console?      Economic surplus: $ _____ f. What is the economic surplus generated if the market were in equilibrium?      Instructions: Use the tool provided “ESeq” to illustrate this area on the graph.      Economic surplus in equilibrium: $ ______

The standard measure of consumer surplus is a fair measure of the value of a good to consumers because it gives an equal weight to each individual consumer.” Is this statement true, false, or uncertain?

In a market, the consumer surplus is 800,000 units and the producer surplus is 100,000. Which of the following statement is true? Group of answer choices The market is efficient since marginal benefit is equal to marginal cost. The market is inefficient since consumer surplus is greater than producer surplus and marginal benefit is equal to marginal cost. The market is efficient since consumer gain more than the producer. The market is inefficient since consumer surplus is greater than producer surplus.

A consumer  is willing to pay $300 for cricket match. The cost of the ticket is $120. What is consumer surplus ?

A consumer is willing to pay $4 for a bag of pretzels, but the price is $1. The consumer surplus in this case is