-In Figure 32.1, at the market equilibrium price-quantity combination, the value to consumers is

Name: -In Figure 32.1, at the market equilibrium price-quantity combination, the value to consumers is
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At the market equilibrium price-quantity combination, the value to consumers is represented by the area under the demand curve and above the price level up to the equilibrium quantity. This area is denoted by 0ACQ*, which captures the consumer surplus at equilibrium.