Suppose a market is in equilibrium.The area between the demand curve and the market price is:
A)the total economic surplus.
B)producer surplus.
C)consumer surplus.
D)the surplus loss.

Name: Suppose a market is in equilibrium.The area between the demand curve and the market price is: A)the total economic surplus. B)producer surplus. C)consumer surplus. D)the surplus loss.
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Question

Quizplus · Accepted Answer

Consumer surplus is the area between the consumers' reservation prices and the price they must pay in the market.

Suppose a Market Is in Equilibrium