The amount of money consumers pay producers is
A)The area under the demand curve form the origin to the quantity purchased.
B)The area under the supply curve form the origin to the quantity produced.
C)The area under the demand curve but above the price line from the origin to the quantity purchased.
D)The price times the quantity or the rectangle whose height is the price and base is the quantity purchased.

Question

Quizplus · Accepted Answer

The amount of money consumers pay producers is determined by the price times the quantity purchased, which is represented by the rectangular area whose height is the price and the base is the quantity purchased. Therefore, option D is the correct choice. Options A and B are incorrect because they only represent the area under the curve, but not the actual amount paid by consumers. Option C is also incorrect because it only represents the amount consumers are willing to pay, not the actual amount paid.

The Amount of Money Consumers Pay Producers Is