Figure 7-7
-Refer to Figure 7-7.What is the consumer surplus if the price is $100?
A)$2,500
B)$5,000
C)$10,000
D)$20,000

Name: Figure 7-7 -Refer to Figure 7-7.What is the consumer surplus if the price is $100? A)$2,500 B)$5,000 C)$10,000 D)$20,000
Brand: Quizplus
Rating: 4.9 (36 reviews)

Question

Figure 7-7 
-Refer to Figure 7-7.What is the consumer surplus if the price is $100?
A)$2,500 
B)$5,000 
C)$10,000 
D)$20,000

Quizplus · Accepted Answer

The consumer surplus is calculated as the area of the triangle above the price level and below the demand curve. If the price is $100, the consumer surplus is $2,500.

Figure 7-7 -Refer to Figure 7-7.What Is the Consumer Surplus If the Surplus