-In the above figure,the market is at its equilibrium.Area A + area B is equal to
A) consumer surplus.
B) total revenue.
C) total surplus.
D) marginal benefit.
E) producer surplus.

Question

-In the above figure,the market is at its equilibrium.Area A + area B is equal to
A) consumer surplus. 
B) total revenue. 
C) total surplus. 
D) marginal benefit. 
E) producer surplus.

Quizplus · Accepted Answer

Total surplus in a market equilibrium is the sum of consumer surplus (area above the price and below the demand curve) and producer surplus (area below the price and above the supply curve), which together are represented by areas A + B in a typical supply and demand graph.

-In the Above Figure,the Market Is at Its Equilibrium