-In the figure above,at the market price of $15,the consumer surplus equals
A) $10,000.
B) $30,000.
C) $40,000.
D) 2,000 units.
E) $20,000.

Question

-In the figure above,at the market price of $15,the consumer surplus equals
A) $10,000. 
B) $30,000. 
C) $40,000. 
D) 2,000 units. 
E) $20,000.

Quizplus · Accepted Answer

Consumer surplus is the difference between the price consumers are willing to pay for a good and the price they actually pay. In this case, the market price is $15, and the demand curve shows that consumers are willing to pay up to $25 for the good. Therefore, the consumer surplus is $25 - $15 = $10.

-In the Figure Above,at the Market Price of $15,the Consumer