The following figure shows the intersection of the demand and supply curves for a commodity in the domestic market at price P 2 and quantity Q 2 ,in the absence of trade.With trade,the supply curve shifts to Supply trade .
Figure 10-4
-Refer to Figure 10-4.In the absence of trade,the total consumer surplus is given by _____.
A)a + b + c + g + f
B)a + b + c + d
C)d + b + c
D)a + b + c

Question

The following figure shows the intersection of the demand and supply curves for a commodity in the domestic market at price P 2 and quantity Q 2 ,in the absence of trade.With trade,the supply curve shifts to Supply trade .
Figure 10-4 
-Refer to Figure 10-4.In the absence of trade,the total consumer surplus is given by _____.
A)a + b + c + g + f 
B)a + b + c + d 
C)d + b + c 
D)a + b + c

Quizplus · Accepted Answer

Consumer surplus is the area above the price line and below the demand curve, up to the equilibrium quantity. In this case, consumer surplus is given by the triangle formed by points A, B, and C. Therefore, the total consumer surplus is equal to area a + b + c.

The Following Figure Shows the Intersection of the Demand and Supply