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Figure: Determining Surplus and Loss
-(Figure: Determining Surplus and Loss)In the graph,how much is consumer surplus at a price of $12?

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Use the following to answer questions 
Figure: Determining Surplus and Loss 
-(Figure: Determining Surplus and Loss)In the graph,how much is consumer surplus at a price of $12?

Quizplus · Accepted Answer

Consumer surplus at a price of $12 can be calculated as the area above the price line and below the demand curve up until the quantity demanded at that price. This area can be divided into a triangle and a rectangle, whose areas are (1/2 x 8 x 6) + (4 x 6) = 40.

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