We can measure total consumer surplus for good X as:
A) the sum of the individual consumer surpluses for all buyers of X.
B) the area above the demand curve for X and below the price of X.
C) the area bounded by the demand curve for X and the two axes.
D) the area above the supply curve for X.

Question

Quizplus · Accepted Answer

Consumer surplus is the sum of the individual consumer surpluses for all buyers of a good, which is represented by the area below the demand curve and above the price level.

We Can Measure Total Consumer Surplus for Good X As