According to the graph shown,consumer surplus is:
A) the area under the supply curve and above the price.
B) the area above the supply curve and below the price.
C) the area under the demand curve and above the market price.
D) the area above the demand curve and below the price.

Question

According to the graph shown,consumer surplus is:
A) the area under the supply curve and above the price. 
B) the area above the supply curve and below the price. 
C) the area under the demand curve and above the market price. 
D) the area above the demand curve and below the price.

Quizplus · Accepted Answer

Consumer surplus is the difference between what consumers are willing to pay for a product and what they actually pay, measured by the area under the demand curve and above the market price.

According to the Graph Shown,consumer Surplus Is