Refer to the information provided in Figure 4.6 below to answer the question(s) that follow.
Equilibrium in this market occurs at the intersection of curves S and D. Figure 4.6
-Refer to Figure 4.6. If price is P1, consumer surplus is area
A) A.
B) A + B + E.
C) G.
D) B + C + E + F + G.

Question

Refer to the information provided in Figure 4.6 below to answer the question(s) that follow.
Equilibrium in this market occurs at the intersection of curves S and D.  Figure 4.6
-Refer to Figure 4.6. If price is P1, consumer surplus is area
A) A. 
B) A + B + E. 
C) G. 
D) B + C + E + F + G.

Quizplus · Accepted Answer

Consumer surplus is the area between the price line and the demand curve, up to the quantity demanded. At price P1, this includes areas A, B, and E.

Refer to the Information Provided in Figure 4