FIGURE 6- 6
-Refer to Figure 6- 6. Suppose that price is P0. The market value of the quantity purchased is given by the area
A) under the demand curve to the left of Q0.
B) below P0 and to the left of Q0.
C) under the demand curve.
D) under the demand curve and to the right of Q0.
E) under the demand curve and above P0.

Question

FIGURE 6- 6
-Refer to Figure 6- 6. Suppose that price is P0. The market value of the quantity purchased is given by the area
A) under the demand curve to the left of Q0. 
B) below P0 and to the left of Q0. 
C) under the demand curve. 
D) under the demand curve and to the right of Q0. 
E) under the demand curve and above P0.

Quizplus · Accepted Answer

The market value of the quantity purchased at price P0 is represented by the area below the price level P0 and to the left of the quantity Q0, which is the rectangle formed by P0 and Q0.

FIGURE 6- 6 -Refer to Figure 6- 6. Suppose That Price Is P0