-In the above figure,if the market is in equilibrium,area A + area B + area C equals
A) total surplus.
B) consumer surplus.
C) deadweight loss.
D) producer surplus.
E) total revenue.

Question

-In the above figure,if the market is in equilibrium,area A + area B + area C equals
A) total surplus. 
B) consumer surplus. 
C) deadweight loss. 
D) producer surplus. 
E) total revenue.

Quizplus · Accepted Answer

In a market equilibrium, the areas A + B + C together represent the consumer surplus, which is the difference between what consumers are willing to pay and what they actually pay.

-In the Above Figure,if the Market Is in Equilibrium,area a