The following figure shows equilibrium at the industry and firm level.Figure 10.6
In the figure,
S 1 , S 2 , S 3 are the market supply curves.D 1 and D 2 are the market demand curves.MC is the marginal cost curve of the firm.MR 1 and MR 2 are the marginal revenue curves of the firm.ATC is the average-total-cost curve of the firm.
-Graphically, consumer surplus is the area:

Question

The following figure shows equilibrium at the industry and firm level.Figure 10.6
  In the figure,
S 1 , S 2 , S 3 are the market supply curves.D 1 and D 2 are the market demand curves.MC is the marginal cost curve of the firm.MR 1 and MR 2 are the marginal revenue curves of the firm.ATC is the average-total-cost curve of the firm.
-Graphically, consumer surplus is the area:

Quizplus · Accepted Answer

Consumer surplus is represented by the area above the equilibrium price and below the demand curve. This area reflects the difference between what consumers are willing to pay for a good or service (as shown by the demand curve) and what they actually pay (the equilibrium price).

The Following Figure Shows Equilibrium at the Industry and Firm