Graph 9-6
This graph refers to the market for oil in Spain.
-According to Graph 9-6, producer surplus plus consumer surplus in Spain before trade would be:
A)A + B
B)A + B + C
C)A + B + C + D
D)B + C + D

Question

Graph 9-6
This graph refers to the market for oil in Spain. 
-According to Graph 9-6, producer surplus plus consumer surplus in Spain before trade would be:
A)A + B 
B)A + B + C 
C)A + B + C + D 
D)B + C + D

Quizplus · Accepted Answer

Producer surplus plus consumer surplus before trade is represented by the area above the supply curve and below the demand curve up to the equilibrium point. In this case, it includes areas A (consumer surplus) and B + C (producer surplus).

Graph 9-6 This Graph Refers to the Market for Oil in Spain