Which of the following is true?
A) The height of the demand curve for a product at a given quantity represents the marginal value derived by the consumption of that unit.
B) The height of the demand curve for a product at a given quantity reflects the total value consumers derive from all units of the good consumed.
C) The total area above the demand curve for a product is equal to consumer surplus.
D) At every quantity, the height of the demand curve for a product represents the cost of producing that unit.

Question

Quizplus · Accepted Answer

The height of the demand curve at a given quantity represents the marginal value or marginal benefit that consumers derive from consuming that additional unit, not the total value or cost of production.

Which of the Following Is True