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Question 116Asked in DSSSB TGT Computer Science, 25 Jun 2023, Shift 3 (4:30 PM)

A surplus occurs when the consumer's willingness to pay for a product is ______ than its market price.

  1. ANone of the given options
  2. Bless than
  3. Cgreater than
  4. Dequal to
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Correct answer: (C) greater than

Explanation

Consumer surplus is the difference between what a consumer is willing to pay and what they actually pay. So it arises when willingness to pay is greater than the market price.

From DSSSB TGT Computer Science PYQ, 25 Jun 2023, Shift 3 (4:30 PM)

This is question 116 of DSSSB TGT Computer Science PYQ, 25 Jun 2023, Shift 3 (4:30 PM). See all questions of this paper with answers, or attempt the paper as a timed online test to get your score and all-India rank.