When looking at a graph,the area under the demand curve and above market price is defined as
A) tax revenue.
B) spending surplus.
C) consumer benefit.
D) producer surplus.
E) consumer surplus.

Question

Quizplus · Accepted Answer

The area under the demand curve and above market price represents the consumer surplus, which is the difference between the maximum price that consumers are willing to pay for a good and the actual market price they pay. It represents the additional benefit that consumers receive from the good beyond what they had to pay for it.

When Looking at a Graph,the Area Under the Demand Curve