Figure 7-3
-Refer to Figure 7-3.When the price is P2,consumer surplus is
A)A.
B)B.
C)A+B.
D)A+B+C.

Name: Figure 7-3 -Refer to Figure 7-3.When the price is P2,consumer surplus is A)A. B)B. C)A+B. D)A+B+C.
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Question

Figure 7-3 
-Refer to Figure 7-3.When the price is P2,consumer surplus is
A)A. 
B)B. 
C)A+B. 
D)A+B+C.

Quizplus · Accepted Answer

Consumer surplus is the area between the demand curve and the price line up to the quantity demanded. At P2 price, consumer surplus is represented by area A. Therefore, the correct answer is A.

Figure 7-3 -Refer to Figure 7-3.When the Price Is P2,consumer Surplus Is