Graph 9-7
-According to Graph 9-7, consumer surplus after trade would be:
A)$10 000
B)$12 000
C)$20 000
D)$24 000

Name: Graph 9-7 -According to Graph 9-7, consumer surplus after trade would be: A)$10 000 B)$12 000 C)$20 000 D)$24 000
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Question

Graph 9-7 
-According to Graph 9-7, consumer surplus after trade would be:
A)$10 000 
B)$12 000 
C)$20 000 
D)$24 000

Quizplus · Accepted Answer

Consumer surplus is the difference between the price consumers are willing to pay for a good and the price they actually pay. In this case, consumers are willing to pay $24,000 for the good, but they only have to pay $14,000. Therefore, consumer surplus is $10,000.

Graph 9-7 -According to Graph 9-7, Consumer Surplus After Trade Would Be