-Given the demand curve in this graph,if price were $1.00,how much is consumer surplus?
A)$0
B)$1.50
C)$5.00
D)$10.50

Name: -Given the demand curve in this graph,if price were $1.00,how much is consumer surplus? A)$0 B)$1.50 C)$5.00 D)$10.50
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Question

-Given the demand curve in this graph,if price were $1.00,how much is consumer surplus?
A)$0 
B)$1.50 
C)$5.00 
D)$10.50

Quizplus · Accepted Answer

Consumer surplus is the area between the demand curve and the price level, up to the quantity demanded. If the price is $1.00, the consumer surplus is calculated as the area of the triangle formed by the demand curve above the price line, which is $5.00.

-Given the Demand Curve in This Graph,if Price Were $1