Use the following to answer question 35:
-(Figure: Market Demand)Look at the figure Market Demand.The amount by which the total benefits to consumers exceed their total expenditure is called _____,and if the price is B,it is depicted by the area _____.
A) producer surplus;BCD
B) consumer surplus;0CDE
C) consumer surplus;BCD
D) net benefit;0BDE

Question

Use the following to answer question 35: 
-(Figure: Market Demand)Look at the figure Market Demand.The amount by which the total benefits to consumers exceed their total expenditure is called _____,and if the price is B,it is depicted by the area _____.
A) producer surplus;BCD 
B) consumer surplus;0CDE 
C) consumer surplus;BCD 
D) net benefit;0BDE

Quizplus · Accepted Answer

The area by which the total benefits to consumers exceed their total expenditure is called consumer surplus. In the figure, the consumer surplus is depicted by the area BCD. Therefore, the correct choice is C, consumer surplus;BCD.

Use the Following to Answer Question 35