FIGURE 6-6
-Refer to Figure 6-6.Suppose the market price is p*.In this case,the total value consumers place on consuming Q* units is outlined by the area
A)BCD.
B)ABD.
C)ADE.
D)ACDE.
E)ABDF.

Question

FIGURE 6-6
-Refer to Figure 6-6.Suppose the market price is p*.In this case,the total value consumers place on consuming Q* units is outlined by the area
A)BCD. 
B)ABD. 
C)ADE. 
D)ACDE. 
E)ABDF.

Quizplus · Accepted Answer

The total value consumers place on consuming Q* units is outlined by the area ACDE. This is the total consumer surplus. Therefore, the best choice is D.

FIGURE 6-6 -Refer to Figure 6-6.Suppose the Market Price Is P*.In This