Answer:
under
above
Explanation:
Consumer surplus is the difference between the willingness to pay of a consumer and the price of the good.
Consumer surplus = willingness to pay – price of the good
For example, if the willingness to pay for a book is $100 and the price of the book is $50.
Please check the attached image for a diagram showing consumer surplus
Consumer surplus : $100 - $50 = $50
