After a price floor of $23 is placed on the market in the graph shown,which area represents consumer surplus?

Name: After a price floor of $23 is placed on the market in the graph shown,which area represents consumer surplus?
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Question

Quizplus · Accepted Answer

Consumer surplus is the area between the demand curve and the price line up to the quantity traded. In this case, after the price floor is imposed at $23, the quantity traded is reduced to Q1, and the consumer surplus is only the shaded region A.

After a Price Floor of $23 Is Placed on the Market