Figure 9-9

-Refer to Figure 9-9.What is consumer surplus in this market before trade
A)A
B)A + B
C)B + D
D)B + C

Name: Figure 9-9 -Refer to Figure 9-9.What is consumer surplus in this market before trade A)A B)A + B C)B + D D)B + C
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Question

Figure 9-9
 
-Refer to Figure 9-9.What is consumer surplus in this market before trade
A)A 
B)A + B 
C)B + D 
D)B + C

Quizplus · Accepted Answer

Consumer surplus before trade is represented by area A, which is the difference between the maximum price consumers are willing to pay (represented by the demand curve) and the actual price they pay (represented by the market price).

Figure 9-9 -Refer to Figure 9-9.What Is Consumer Surplus in This Market