Graphically, consumer surplus is measured by:
A)the area below the demand curve.
B)the area below the demand curve, but above the upward-sloping supply curve.
C)the area below the demand curve, but above the market price.
D)the area below the market demand curve, but above the supply curve.

Question

Graphically, consumer surplus is measured by:
A)​the area below the demand curve.
B)​the area below the demand curve, but above the upward-sloping supply curve.
C)​the area below the demand curve, but above the market price.
D)​the area below the market demand curve, but above the supply curve.

Quizplus · Accepted Answer

Consumer surplus is the difference between what consumers are willing to pay for a good or service and what they actually pay. Graphically, it is represented by the area below the demand curve and above the market price.

Graphically, Consumer Surplus Is Measured By