in-the-context-of-uber-rides-if-a-consumer-is-willing-to-pay-25-for-a-ride-but-o

Question

In the context of Uber rides, if a consumer is willing to pay $25 for a ride but only pays $10, what does the $15 difference represent?

Accepted Answer

Consumer surplus, as the consumer gains $15 worth of benefit.

Answer

Price elasticity, as it measures the change in quantity demanded.

Answer

Producer surplus, as the producer gains $15 worth of benefit.

Answer

Market equilibrium, as the market price is set at $10.

In the context of Uber rides, if a consumer is willing to pay \$25 for a ride but only pays \$10, what does the \$15 difference represent?