question\nwhy is there consumer surplus?\nselect the correct answer below:\nbecause some people are willing…

question\nwhy is there consumer surplus?\nselect the correct answer below:\nbecause some people are willing to pay more for a product than equilibrium price.\nbecause some people are not willing to pay more for a product than equilibrium price.\nbecause some people arent willing to purchase a product at equilibrium price.\nbecause some people are unwilling to purchase a good or service.

question\nwhy is there consumer surplus?\nselect the correct answer below:\nbecause some people are willing to pay more for a product than equilibrium price.\nbecause some people are not willing to pay more for a product than equilibrium price.\nbecause some people arent willing to purchase a product at equilibrium price.\nbecause some people are unwilling to purchase a good or service.

Answer

Brief Explanations:

Consumer surplus is the difference between the total amount that consumers are willing and able to pay for a good or service (i.e., total willingness - to - pay) and the total amount that they actually do pay (the market price). When some consumers are willing to pay more than the equilibrium price, they get a surplus as they pay the lower equilibrium price.

Answer:

Because some people are willing to pay more for a product than equilibrium price.