Exhibit 5-9
-Refer to Exhibit 5-9. When price is P2, consumer surplus is the numbered area
A) 2 + 3 + 4.
B) 1 + 2 + 3 + 4.
C) 1.
D) 2 + 3 + 4 + 5.
E) 1 + 6.

Name: Exhibit 5-9 -Refer to Exhibit 5-9. When price is P2, consumer surplus is the numbered area A) 2 + 3 + 4. B) 1 + 2 + 3 + 4. C) 1. D) 2 + 3 + 4 + 5. E) 1 + 6.
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Question

Exhibit 5-9 
-Refer to Exhibit 5-9. When price is P2, consumer surplus is the numbered area
A) 2 + 3 + 4. 
B) 1 + 2 + 3 + 4. 
C) 1. 
D) 2 + 3 + 4 + 5. 
E) 1 + 6.

Quizplus · Accepted Answer

Consumer surplus is the area above the price level and below the demand curve. At price P2, it is the area labeled 1.

Exhibit 5-9 -Refer to Exhibit 5-9. When Price Is P2, Consumer Surplus