FIGURE 6-7
-Refer to Figure 6-7. Suppose that price is P0. The market value of the quantity purchased is given by the area
A) under the demand curve to the left of Q0.
B) under the demand curve.
C) below P0 and to the left of Q0.
D) under the demand curve and above P0.
E) under the demand curve and to the right of Q0.

Question

FIGURE 6-7
-Refer to Figure 6-7. Suppose that price is P0. The market value of the quantity purchased is given by the area
A) under the demand curve to the left of Q0. 
B) under the demand curve. 
C) below P0 and to the left of Q0. 
D) under the demand curve and above P0. 
E) under the demand curve and to the right of Q0.

Quizplus · Accepted Answer

The market value of the quantity purchased at price P0 is represented by the area below P0 and to the left of Q0, which is the rectangle formed by the price P0 and the quantity Q0.

FIGURE 6-7 -Refer to Figure 6-7. Suppose That Price Is P0. the P0