-The figure above shows Lauren's demand curve for Barbie dolls and the market price for Barbie dolls.Using the area of the consumer surplus triangle,Lauren's total consumer surplus from purchasing 3 dolls is
A) $5.50.
B) $10.00.
C) $22.50.
D) $45.00.
E) 3 dolls.

Question

-The figure above shows Lauren's demand curve for Barbie dolls and the market price for Barbie dolls.Using the area of the consumer surplus triangle,Lauren's total consumer surplus from purchasing 3 dolls is
A) $5.50. 
B) $10.00. 
C) $22.50. 
D) $45.00. 
E) 3 dolls.

Quizplus · Accepted Answer

Consumer surplus is calculated as the area of the triangle above the price line and below the demand curve. For 3 dolls, this area is 1/2 * base * height = 1/2 * 3 * 15 = 22.50.

-The Figure Above Shows Lauren's Demand Curve for Barbie Dolls