Question

17. The concept of consumer surplus originated with __________ but was popularized by __________. a. Jevons...

17. The concept of consumer surplus originated with __________ but was popularized by __________.

a. Jevons / Marshall

b. Cournot / Dupuit

c. Smith / Mill

d. Dupuit / Marshall

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Answer #1

Answer option D dupuit / marshall

The concept of consumer surplus was first originated by jules dupuit as economic surplus, but the same concept is popularised by alfred marshall as consumer surplus, which simply states the difference between what a consumer is willing to pay and what actual it pays. The concept of economic surplus given by duplit is developed by marshall is popularly known as total welfare which is the summation of consumer surplus and producer surplus.

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