Which of the following best describes "consumer surplus"?

Consumer surplus is accurately defined as the difference between what consumers are willing to pay for a good or service and what they actually pay. This represents the additional benefit or economic gain that consumers receive because they are able to purchase something for less than the maximum price they would be willing to pay.

For example, if a consumer is willing to pay $100 for a concert ticket but only ends up paying $70, the consumer surplus would be $30. This surplus indicates the value that consumers derive beyond the actual cost they incurred.

The other options focus on different economic concepts. Total benefit (option A) does not specifically address the difference between willingness to pay and actual payment, nor does it quantify the surplus itself. The total amount spent by consumers on goods (option B) reflects expenditure rather than surplus and does not consider the willingness to pay. The difference between producer price and selling price (option D) pertains more to the concept of producer surplus, which relates to sellers rather than consumers.

Thus, option C definitively encapsulates the essence of consumer surplus, making it the best choice.