Refer to the graph shown. Assume that the market is initially in equilibrium at a price of $10 and a quantity of 500 units. In equilibrium, consumer surplus is equal to:
A) 1,500.
B) 2,500.
C) 3,500.
D) 5,000.

Question

Refer to the graph shown. Assume that the market is initially in equilibrium at a price of $10 and a quantity of 500 units. In equilibrium, consumer surplus is equal to: 
A) 1,500. 
B) 2,500. 
C) 3,500. 
D) 5,000.

Quizplus · Accepted Answer

The Answer of Refer to the graph shown. Assume that the market is initially in equilibrium at a price of $10 and a quantity of 500 units. In equilibrium, consumer surplus is equal to: 
A) 1,500. 
B) 2,500. 
C) 3,500. 
D) 5,000.

Refer to the Graph Shown