Exhibit 6.6

-Refer to Exhibit 6.6,which shows the market demand schedule for a good.When the price of the good is zero,the shaded and unshaded areas under the demand curve D represent _____

Question

Exhibit 6.6
 
-Refer to Exhibit 6.6,which shows the market demand schedule for a good.When the price of the good is zero,the shaded and unshaded areas under the demand curve D represent _____

Quizplus · Accepted Answer

When the price of the good is zero, the shaded and unshaded areas under the demand curve D represent the consumer surplus, which is the difference between what consumers are willing to pay for a good and what they actually pay. Therefore, the correct answer is D, consumer surplus.

Exhibit 6.6 -Refer to Exhibit 6.6,which Shows the Market Demand Schedule for Market