Use the figure below to answer the following questions.

Figure 13.3.3
-Consider the market demand curve in Figure 13.3.3. If the market is perfectly competitive, which area indicates consumer surplus?
A)AEK
B)DHK
C)DIK
D)DIH
E)ACD

Question

Use the figure below to answer the following questions.
  
Figure 13.3.3
-Consider the market demand curve in Figure 13.3.3. If the market is perfectly competitive, which area indicates consumer surplus?
A)AEK 
B)DHK 
C)DIK 
D)DIH 
E)ACD

Quizplus · Accepted Answer

Consumer surplus is the area above the market price but below the demand curve. In this case, it is the area DHK.

Use the Figure Below to Answer the Following Questions