-In Figure 33.1, at the minimum wage the consumer surplus is A)W*AC B)BW*C C)BW_minEF D)W_minAE

Name: -In Figure 33.1, at the minimum wage the consumer surplus is A)W*AC B)BW*C C)BW min EF D)W min AE
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Quizplus · Accepted Answer

Consumer surplus is the area between the demand curve and the price level up to the quantity consumed. In this case, it's the area under the demand curve above the minimum wage, from the origin to the quantity of labor hired, which is described by the area W_minAE.