which of the following statements are true? i. consumer surplus is the difference between the maximum price a consumer is willing to pay for a good or service and its market price. ii. bill is willing to pay $10 for two pounds of clay. if the market price for a pound of clay is $2, bill receives a total consumer surplus of $8 if he buys two pounds. iii. graphically, consumer surplus is represented by the area bounded by vertical axis, demand curve and market price.