In a figure,the consumer surplus is equal to the area ________ the ________ curve and ________ the price.
A) above; demand; above
B) below; supply; below
C) below; demand; below
D) below; demand; above
E) above; supply; below

Question

Quizplus · Accepted Answer

Consumer surplus is the area below the demand curve and above the price, representing the difference between what consumers are willing to pay and what they actually pay.

In a Figure,the Consumer Surplus Is Equal to the Area