Reference: Ref 13-5 (Figure: Monopoly Markup) Refer to the figure. Consumer surplus under monopoly is represented by:
A) triangle abc.
B) triangle cef.
C) square bcde.
D) triangle adf.

Question

Reference: Ref 13-5 (Figure: Monopoly Markup) Refer to the figure. Consumer surplus under monopoly is represented by:
A) triangle abc. 
B) triangle cef. 
C) square bcde. 
D) triangle adf.

Quizplus · Accepted Answer

Consumer surplus under monopoly is represented by the area between the demand curve and the price charged, so in this case it is triangle abc.

Reference: Ref 13-5 (Figure: Monopoly Markup) Refer to the Figure