The difference between the value of a product to a customer and the price paid is called:

Question

BlackTom AI · Accepted Answer

Let's consider the question: What is the difference between the value a product provides to a customer and the price paid?
Option 1: 'Supply chain surplus' would refer to benefits distributed along the supply chain, such as what suppliers or manufacturers gain in excess of their costs, not the consumer's perceived value versus price. This term does not capture the consumer's gain directly.
Option 2: 'Retail margin' denotes the difference between the selling price to customers and the cost of goods sold for the retailer, i.e., the retailer's own profit component, not the broader concept of consumer benefit relative to price.
Option 3: 'Consumer surplus' describes exactly the gap between what a buyer is willing to pay for a product (the perceived value) and what they actually pay (the price). This reflects the net benefit to the consumer from the transaction.
Option 4: 'Producer surplus' refers to the difference between the price at which producers are willing to sell a good and the actual price they receive, representing producer gains, not the consumer’s benefit.
In summary, the term that aligns with the definition of the benefit to the consumer minus the price paid is consumer surplus, while the other options describe different concepts related to different stakeholders or aspects of the market.

The difference between the value of a product to a customer and the price paid is called:

查看解析

登录即可查看完整答案

类似问题

Consumer surplus could be the shaded area in which of the following situations?

In which scenario would consumers have the most bargaining power, leading to a maximum value for consumer surplus ?

Firm A sells a product with a willingness to pay (WTP) of $120 at a price of $100. Firm B sells a similar product with a WTP of $110. Under surplus parity, what price should Firm B set for their Product?

If Darby values a soccer ball at $50, and she pays $40 for it, her consumer surplus is $10.

Henry is willing to pay 45 cents, and Janine is willing to pay 55 cents, for 1 pound of bananas. When the price of bananas falls from 50 cents a pound to 40 cents a pound,

If Darby values a soccer ball at $50, and she pays $40 for it, her consumer surplus is $90.

25. Three consumers: Jon, Wang, and Ariana went to a shopping center to buy a T-shirt. Jon was willing to pay $20, Wang was willing to pay $30, and Ariana was willing to pay $40 for the same show. If the market (equilibrium price) was $20 per shoe, the consumer surplus equals

更多留学生实用工具

考试浏览器助手

风格化写作助手

论文查重助手

文献引用助手

课堂转译助手

课堂笔记助手

Quiz搜索助手

学校历年真题

智能刷题助手

智能匹配练习

希望你的学习变得更简单