Refer to the accompanying figure to answer the questions.
-The consumer surplus associated with this profit-maximizing monopoly is represented by areas:
A) A + B.
B) B + D + G + E + H.
C) F + G + H + I.
D) A + B + C + D + E.
E) E + H.

Question

Refer to the accompanying figure to answer the  questions. 
-The consumer surplus associated with this profit-maximizing monopoly is represented by areas:
A) A + B. 
B) B + D + G + E + H. 
C) F + G + H + I. 
D) A + B + C + D + E. 
E) E + H.

Quizplus · Accepted Answer

The consumer surplus is the difference between the price consumers are willing to pay for a good and the price they actually pay. In this case, the consumer surplus is represented by the area above the equilibrium price (P*) and below the demand curve (D). This area is labeled as area A.

Refer to the Accompanying Figure to Answer the Questions