-In the figure above, if the market is at equilibrium, then the total consumer surplus equals the area ________ and the total producer surplus equals the area ________.
A) A + B; C
B) A; C
C) C; B
D) A; B
E) B; C

Question

-In the figure above, if the market is at equilibrium, then the total consumer surplus equals the area ________ and the total producer surplus equals the area ________.
A) A + B; C 
B) A; C 
C) C; B 
D) A; B 
E) B; C

Quizplus · Accepted Answer

Total consumer surplus is the area above the equilibrium price and below the demand curve, which is area A. Total producer surplus is the area below the equilibrium price and above the supply curve, which is area B.

-In the Figure Above, If the Market Is at Equilibrium