Final answer:
The statement is true as consumer surplus is the difference between the price a consumer is willing to pay and the price they actually pay. The consumer surplus in the given scenario is indeed $6.00, which is the difference between the willing price of $20.00 and the actual price of $14.00.
Step-by-step explanation:
The statement that if a consumer is willing and able to pay $20.00 for a good but only has to pay $14.00, the consumer surplus is $6.00, is true. Consumer surplus is the difference between what consumers are willing to pay for a good or service (their valuation of it) and what they actually pay (the market price).
In the given example, the consumer's willingness to pay was $20.00, and the market price was $14.00. Thus, the benefit that the consumer receives beyond what they had to pay is $6.00 ($20.00 - $14.00). This excess is the consumer surplus. It's important to note that the demand curve reflects consumers' willingness to pay for different quantities, and the consumer surplus is represented by the area above the market price and below the demand curve.