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 goes from equilibrium to P1, consumer surplus changes by the area
A) E - C.
B) C + E.
C) E + F.
D) B - F.

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 goes from equilibrium to P1, consumer surplus changes by the area
A) E - C. 
B) C + E. 
C) E + F. 
D) B - F.

Quizplus · Accepted Answer

When price goes from equilibrium to P1, consumer surplus changes by the area E - C. This is because the area E - C represents the difference between the price consumers are willing to pay for the good and the price they actually pay.

Refer to the Information Provided in Figure 4