Exhibit 9.9

-Refer to Exhibit 9.9,which depicts a monopoly market in the absence of price discrimination.Consumer surplus in this market is represented by the area _____
A)eda.
B)ecf.
C)dacb.
D)dafc.
E)abf.

Question

Exhibit 9.9
 
-Refer to Exhibit 9.9,which depicts a monopoly market in the absence of price discrimination.Consumer surplus in this market is represented by the area _____
A)eda. 
B)ecf. 
C)dacb. 
D)dafc. 
E)abf.

Quizplus · Accepted Answer

Consumer surplus in a monopoly market without price discrimination is the area above the price level and below the demand curve, up to the quantity sold. In this case, it is represented by the area "eda".

Exhibit 9.9 -Refer to Exhibit 9.9,which Depicts a Monopoly Market in the Monopoly