Figure 7-9

-Refer to Figure 7-9. At equilibrium, total surplus is represented by the area
A)A+B+C.
B)A+B+D+F.
C)A+B+C+D+H+F.
D)A+B+C+D+H+F+G+I.

Question

Figure 7-9
 
-Refer to Figure 7-9. At equilibrium, total surplus is represented by the area
A)A+B+C. 
B)A+B+D+F. 
C)A+B+C+D+H+F. 
D)A+B+C+D+H+F+G+I.

Quizplus · Accepted Answer

Total surplus in a market is the sum of consumer surplus and producer surplus. At equilibrium, consumer surplus is the area above the price level and below the demand curve (A+B+C), and producer surplus is the area below the price level and above the supply curve (D+H+F). Adding these areas together gives the total surplus (A+B+C+D+H+F).

Figure 7-9 -Refer to Figure 7-9. at Equilibrium, Total Surplus Is Represented