To calculate consumer surplus:
A) integrate the area under the demand curve and above the equilibrium price.
B) integrate the area under the demand curve and above the supply curve.
C) take the derivative of quantity demanded with respect to price.
D) take the derivative of quantity demanded with respect to income.

Question

Quizplus · Accepted Answer

Consumer surplus is calculated by integrating the area under the demand curve and above the equilibrium price, representing the difference between what consumers are willing to pay and what they actually pay.

To Calculate Consumer Surplus