Figure 7-4
-Refer to Figure 7-4.Which area represents consumer surplus at a price of P2?
A)BDF
B)AFG
C)ABDG
D)ABC

Name: Figure 7-4 -Refer to Figure 7-4.Which area represents consumer surplus at a price of P2? A)BDF B)AFG C)ABDG D)ABC
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Question

Figure 7-4 
-Refer to Figure 7-4.Which area represents consumer surplus at a price of P2?
A)BDF 
B)AFG 
C)ABDG 
D)ABC

Quizplus · Accepted Answer

The area between the demand curve and the price (P2) represents consumer surplus. This area can be seen as the triangle AFG, which is the largest area between the demand curve and the price. Thus, the correct choice is B.

Figure 7-4 -Refer to Figure 7-4.Which Area Represents Consumer Surplus at a Surplus