Figure 7-19

-Refer to Figure 7-19.At equilibrium,consumer surplus is represented by the area
A) A.
B) A+B+C.
C) D+H+F.
D) A+B+C+D+H+F.

Question

Figure 7-19
 
-Refer to Figure 7-19.At equilibrium,consumer surplus is represented by the area
A) A. 
B) A+B+C. 
C) D+H+F. 
D) A+B+C+D+H+F.

Quizplus · Accepted Answer

Consumer surplus is the area between the demand curve and the equilibrium price, up to the quantity consumed. This area is represented by A+B+C. Therefore, at equilibrium, consumer surplus is only represented by the area A+B+C.

Figure 7-19 -Refer to Figure 7-19.At Equilibrium,consumer Surplus Is Represented by the Is