-Refer to the diagram above.Based on demand curve D and supply curve S,the dollar value of consumer surplus is
A) $240.
B) $200.
C) $180.
D) $160.
E) $120.

Name: -Refer to the diagram above.Based on demand curve D and supply curve S,the dollar value of consumer surplus is A) $240. B) $200. C) $180. D) $160. E) $120.
Brand: Quizplus
Rating: 4.8 (34 reviews)

Question

-Refer to the diagram above.Based on demand curve D and supply curve S,the dollar value of consumer surplus is
A) $240. 
B) $200. 
C) $180. 
D) $160. 
E) $120.

Quizplus · Accepted Answer

Consumer surplus is the area between the demand curve and the price level, up to the quantity sold. The correct calculation based on the diagram would yield a consumer surplus of $180.

-Refer to the Diagram Above