We can measure producer and consumer surplus by looking at the supply
And demand graphical representation.Consumer surplus is:
A)the area above the supply curve but below the equilibrium price.
B)the area below the demand curve but greater than the equilibrium price.
C)the area below the demand curve all the way down to the quantity axis.
D)the combined triangular area below the demand curve and above the supply curve.

Question

Quizplus · Accepted Answer

Consumer surplus is the difference between the maximum price a consumer is willing to pay for a good or service and the actual price they pay. It is represented by the area below the demand curve but above the equilibrium price. So, option B is the correct choice.

We Can Measure Producer and Consumer Surplus by Looking at the Supply