Consumer surplus is equal to the:
A) area under the demand curve and above the supply curve.
B) area under the demand curve.
C) area under the supply curve.
D) area under the demand curve and above the equilibrium price.
E) price times quantity.

Question

Quizplus · Accepted Answer

Consumer surplus is the difference between what consumers are willing to pay for a good or service and what they actually pay. It is represented graphically as the area under the demand curve and above the equilibrium price.

Consumer Surplus Is Equal to The