Exhibit 6.11

-Refer to Exhibit 6.11.When the market shown is in equilibrium,the consumer surplus is shown by the area _____

Question

Exhibit 6.11
 
-Refer to Exhibit 6.11.When the market shown is in equilibrium,the consumer surplus is shown by the area _____

Quizplus · Accepted Answer

Consumer surplus is the difference between the price consumers are willing to pay for a good and the price they actually pay. In the diagram, this is represented by the area above the equilibrium price and below the demand curve. This area is labeled A.

Exhibit 6.11 -Refer to Exhibit 6.11.When the Market Shown Is in Equilibrium,the