Jack owns a ready-to-heat pasta company that is one of ten companies making this type of product. He would like to charge a higher price for the product since customers place a high value on it but the presence of so many competitors makes this impossible. In this situation, _____ allow(s) customers, instead of the company, to capture some of the value of the product.

Jack owns a ready-to-heat pasta company that is one of ten companies making this type of product. He would like to charge a higher price for the product since customers place a high value on it but the presence of so many competitors makes this impossible. In this situation, _____ allow(s) customers, instead of the company, to capture some of the value of the product.

Jack owns a ready-to-heat pasta company that is one of ten companies making this type of product. He would like to charge a higher price for the product since customers place a high value on it but the presence of so many competitors makes this impossible. In this situation, _____ allow(s) customers, instead of the company, to capture some of the value of the product.



Answer: consumer surplus


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