The following figure shows the intersection of demand and supply at the price P 2 and quantity Q 2 in a competitive market.
Figure 10-2
-Refer to Figure 10-2.What is the consumer surplus at the equilibrium level of output?
A)a + b + f + g + h
B)a + b + c + d
C)a + b + c + f + g
D)a + b + c

Question

The following figure shows the intersection of demand and supply at the price P 2 and quantity Q 2 in a competitive market.
Figure 10-2 
-Refer to Figure 10-2.What is the consumer surplus at the equilibrium level of output?
A)a + b + f + g + h 
B)a + b + c + d 
C)a + b + c + f + g 
D)a + b + c

Quizplus · Accepted Answer

Consumer surplus is the area above the price level and below the demand curve up to the equilibrium quantity, which is represented by the area a + b + c.

The Following Figure Shows the Intersection of Demand and Supply