Graph 7-4
-In Graph 7-4, at the market-clearing equilibrium, total consumer surplus is represented by the area:
A)A
B)A + B + C
C)D + E + F
D)A + B + C + D + E + F

Question

Graph 7-4 
-In Graph 7-4, at the market-clearing equilibrium, total consumer surplus is represented by the area:
A)A 
B)A + B + C 
C)D + E + F 
D)A + B + C + D + E + F

Quizplus · Accepted Answer

At the market-clearing equilibrium, total consumer surplus is represented by the area A plus the triangle created by points A, B, and the intersection of the market supply and demand curves. This area is represented by A + B + C. Therefore, the correct answer is B.

Graph 7-4 -In Graph 7-4, at the Market-Clearing Equilibrium, Total Consumer Surplus